Emirates NBD Protect Plus Credit Shield Insurance for Credit Cards in UAE

By Neha Goyal
  | Published: 07 September 2021 | Last Updated On: 23 September 2021

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With an Emirates NBD credit card, you receive the facility of borrowing money along with credit shield insurance. With Emirates NBD Credit Shield Insurance, you can protect your credit card bill payment and your life against any uncertainties that have the potential to hamper your financial future. Emirates NBD Credit Shield Insurance provides you protection against loss of life, critical insurance, and involuntary loss of job.

Policy Coverage for Credit Card by Emirates NBD Credit Shield Insurance

With Emirates NBD Credit Shield Insurance, you are covered for: 

Death

If the cardholder dies due to any illness or injury the Credit Shield Insurance will pay the nominee a lump sum. However, the illness or injury should not be mentioned under the exclusions otherwise the company will not be liable to pay any amount.

Benefit on permanent total disablement

In case the cardholder becomes permanently disabled due to an illness or injury that has not been mentioned under the exclusions of this policy (after the beginning date and the duration of the policy), the credit shield insurance will compensate the insurer with the amount owed by the cardholder to the company on the date any such event.

Critical Illness

If the cardholder is diagnosed with any critical illness/(s) covered under this policy due to a cause that has not been mentioned under the exclusions of this policy (after the beginning date and the duration of the policy), the Emirates NBD credit shield insurance will compensate the insurer with the amount owed by the cardholder to the company on the date any such event.

With other conditions like:

  • The benefit amount will not be paid by the credit shield insurance if the cardholder does not survive for at least one-month post-diagnosis of anyone/more of the critical illnesses included in the policy
  • The benefit amount will not be paid by the company in case the cardholder dies within the first month of the diagnosis
  • Waiting period: if the cardholder is diagnosed with any listed critical illness within the first three months after the Beginning Date of the policy, no benefit amount will be payable.

List of critical illnesses covered:

  • Major organ transplant
  • Coronary Artery Bypass Surgery
  • Multiple Sclerosis
  • Stroke
  • Kidney Failure (End-Stage Renal Disease)
  • Cancer

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Coverage Limits of Emirates NBD Credit Card Shield Insurance

  • Maximum Limit per person: AED100,000/- per Primary card subject to a maximum of AED300,000/- per cardholder in respect of Sections 1, 2 and 3
  • Minimum Age at Issue: 18 years
  • Maximum Coverage Age: 70 years for Section 1 & 2 59 years for Section 3

Premium Cost of Emirates NBD Credit Card Shield Insurance

A monthly fee of 0.99% of your card’s outstanding balance will be charged as an insurance premium.

Eligibility Criteria for Emirates NBD Credit Card Shield Insurance

  • The Cardholder must meet the eligibility criteria stipulated by the insured Bank to become a Cardholder.
  • The Gross Salary of the Cardholder should not be less than AED 2,000 per month
  • The Cardholder should have been employed with the same employer for at least 6months other than those self-employed individuals
  • The Cardholder should have a full-time permanent employment contract with his employer.
  • The Cardholder shall be within the age criteria specified in the schedule of this policy

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How to Apply for Emirates NBD Credit Card Shield Insurance

You do not require to apply separately for Emirates NBD Credit Shield Insurance. When you purchase an Emirates NBD Credit Card with credit card Shield Insurance, you are automatically registered to the programme until you cancel it. In case you wish to cancel or de-roll from the programme you can inform send a request to the bank and the bank will cancel your membership to the programme within 3 months.

Term & Condition for Emirates NBD Credit Card Shield Insurance

EXCLUSIONS

1. No Benefits under Emirates NBD credit shield insurance shall be payable in respect of a Cardholder where the Event giving rise to a claim under this policy occurs as a result of:

(a) Death by suicide within 12 months of the commencement date

(b) Illness occurring within 30 days of the commencement date

(c) Any deliberate self-inflicted injury and/or self-medication (without a proper prescription from a legally recognised Medical Practitioner)

(d) The effects or complications arising from pregnancy

(e) Any accident occurring on or in or about any aircraft other than an aircraft in which the Cardholder was travelling as a bonafide passenger and which is operated by a licensed commercial or chartered airline

(f) Nuclear Radiation, Nuclear Fission, Nuclear Fusion and/or Radioactive Contamination

(g) Riot, civil commotion, strikes and war (whether war be declared or not), rebellion, insurrection, resurrection, popular rising, usurped power, terrorism

(h) The influence of alcohol or drugs other than proper use of drugs prescribed by a legally qualified medical practitioner but this exclusion shall not apply to Death arising out of the above reason.

(i) Due to Chronic Illness / Condition but this exclusion shall not apply to Death resulting from Chronic Illness/Condition.

(j) Illness due to pre-existing condition but this exclusion shall not apply in respect of Death occurring after a continuous period of 6 months from the Date of Commencement in respect of the particular Cardholder.

However, this exclusion is applicable only if the Company can substantiate, pre-existing condition‟ within 1 month from the date of submission of all required claims documentation to the Company

(k) (i) Acquired Immune Deficiency Syndrome (AIDS), AIDS-related Complex (ARC) as defined by the World Health Organisation from time to time; or (ii) the presence of the Human Immunodeficiency Virus (HIV) as revealed by the positive HIV anti-body or HIV test. 

2. Exclusions applicable to Accidental Death and medical expenses only: No payment shall be made under credit shield insurance on the death of the cardholder or medical expenses incurred by him if such death or medical expense occurs as a result of: 

(a) Motorcycling as a driver or passenger on machines with more than 150 cc engine capacity; or as a driver, if the cardholder does not have a valid motorcycle licence 

(b) Mountaineering or rock climbing that uses ropes or guides, bungee jumping, scuba diving, potholing or organised team sports. 

(c) Big Game Hunting, BMX Stunt Riding, Boxing, Free Climb Mountaineering, Go-Karting, Gymnastic, High Diving (other than from a purpose-built diving board over a man-made swimming pool), Jousting, Martial Arts, Micro-lighting, Motor Rallies or Competitions, Outdoor Endurance, Outward Bound Courses, Safaris with guns, Show Jumping, Stunt Events, Underground Activities (other than as a part of an organised excursion or tour), Water Ski Jumping, White Water Rafting, Wrestling or any variations thereof. Competing in or practising for speed or time trials, sprints or racing of any kind. Taking part in expeditions or being a crew member on a vessel. 

3. Claims reported later than 30 days from the date of the event.

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Conditions for Emirates NBD Credit Card Shield Insurance

  • The insured/cardholder must provide information that the company might require including the current status of health to avail of the benefits. Before acceptance of the information, the company reserves the right to send a legally certified medical professional to conduct a medical examination on the insurer/cardholder. 
  • Only the primary cardholder will receive the credit shield insurance benefits covered by the policy and not any secondary or additional insurer/cardholder.
  • Any cardholder who reaches the Maximum Coverage Age as mentioned in the policy (the insurer is not covered beyond this age) will not be eligible to avail of any benefit.
  • For the first two months after the beginning date of the policy, the company will bear the cost of the premium. The benefits will continue for the cardholder till they do not specifically instruct the company that they do not want to be benefited or covered,
  • The benefits of the cardholder shall be terminated under the following conditions:
  1. Credit card cancellation of the insurer. The benefits will be cancelled after 90 days after the cancellation request.
  2. If the insurer/cardholder attains the Maximum Coverage Age as mentioned in the policy's schedule
  3. If the claim has been paid under Sections 1, 2, 3 and 5 of this policy
  4. The cardholder becomes a defaulter for 90 days. However, the policy will be activated upon the clearance of dues from the cardholder
  5. Cancellation of the benefits under this policy by the Insured or the Cardholder at any time following the terms and conditions of this policy
  • Wherever “this policy” or “policy” is mentioned in the contract, it should be interpreted as including the Schedule and any attached Sections, specifications, Endorsements or Exclusions.
  • The observance by the Insured of the terms of this policy and the truth of the statements and the answers by the Insured in the proposal and other material information provided by the Insured shall be conditions precedent to any liability of the Company. If the circumstances in which the insurance contract was entered into are materially altered without the written consent of the Company, the policy shall become null and void.
  • The policy shall be forfeited in case of any false claim or wrong information provided to the company.
  • The cardholder requires to provide a monthly listing within 15 days from the end of each month in e-format (Microsoft Excel Spreadsheet or Microsoft Access Database or any other format that can be easily convertible to above-mentioned formats) containing the following information in respect of the Cardholders:
  1. Card Account Number
  2. Card Issue Date
  3. Date of birth
  4. Outstanding Amount.
  • The premium charged at the beginning of the policy period being the minimum and deposit premium, the same shall be adjusted against the actual premium calculated based on the monthly declarations submitted to the Company by the Insured in the format mentioned in the foregoing condition. In the event of the actual premium cumulatively exceeding the minimum and deposit premium for the policy period in respect of which the premium adjustment is made, the insured shall hereby pay the difference to the Company on or before 30 days from the end of each month.
  • This policy may be cancelled by either party by giving 3 months’ written notice to that effect. In the event of cancellation of the policy by the insured, the premium adjustment shall be made based on the monthly adjustments up to the month of cancellation against the minimum and deposit premium for the policy period in force. In no case shall the refund premium exceed the amount of total monthly premium calculated up to the date of cancellation based on the monthly declarations made less the minimum and deposit premium charged at the inception of the current policy period. In the event of cancellation of the policy by the Company, the premium adjustment shall be made based on the monthly adjustments up to the month of cancellation against the minimum and deposit premium for the policy period in force.
  • If any difference shall arise as to the amount to be paid under this policy (liability being otherwise admitted) such difference shall be referred to an arbitrator to be appointed by the parties following norms. Where any difference is to be referred to arbitration, the making of an award shall be a condition precedent to any right of action against the Company.
  • All claims and/or disputes shall be subject to the jurisdiction of the Competent Courts of Dubai.
  • The maximum cumulative amount of benefits payable under this Policy for any one person shall not exceed the amount stated in the schedule of this policy irrespective of the number of policies in force or the number of Credit Card Facilities in respect of which the Cardholder has obtained a similar benefit as provided under this policy

Claim Procedure for Emirates NBD Credit Card Shield Insurance

In case of an unfortunate incident, the cardholder or their representative should follow the following procedure:

1. Give immediate written notice to the Company but within 30 days from the date of the incident and in the case of accidental hospitalisation the company should be notified within 3 days from the time of the incident.

2. The Insured or the Cardholder or the Cardholder’s legal personal representative shall complete the standard claim form issued by the Company and produced at no cost to the Company with such evidence to substantiate the claim to the satisfaction of the Company as the Company may reasonably require

3. The Cardholder or the Cardholder’s legal personal representative or the Insured shall submit the following documents:

1. for Death Claims

  • Death Certificate
  • Post Mortem Report (wherever legally required)
  • Police Report (if death was due to an accident)
  • Medical Report from a licenced and registered medical officer with Detailed Diagnosis and Cause of Death if required by the Company when the actual cause of death is not mentioned in the Death Certificate.
  • Copy of passport with visa page

2. for Permanent Total Disablement Claims

  • Disability Certificate from an authorised medical practitioner to assess disability
  • Police Report (if the disability is due to an accident)
  • Medical Report from a licenced and registered medical officer with Detailed Diagnosis, Cause of Disability and Details of Treatment given (if any)
  • Copy of passport and where applicable with visa page

3. for Critical Illness Claims

  • Medical report diagnosing critical illness
  • Police report (if critical illness is due to an accident)
  • Copy of passport with visa page
  • From an Authorised Medical Practitioner.

All papers as indicated above may be required to be produced in original (other than those surrendered to the authorities or Employer) for verification before the final settlement of the claim.

Other Bank's Credit Shield Insurance for Credit Card in UAE

ADCB Credit Shield Insurance for Credit Cards
HSBC Credit Shield Insurance for Credit Cards
Citibank Credit Shield Insurance for Credit Cards