Credit Card Liability Insurance

When you take on liabilities, insure them!

  • Insurance will help discharging credit card liabilities in case you suddenly lose your job or fall ill.
  • You will be charged for insurance only if the credit card limit is used.
  • We will reimburse 5% a month of the used credit for up to one year.
  • The insurance fee is 0.6% a month of the used credit card limit.

What is Credit Cover?

Credit card liabilities insurance is a way of taking care of control over your expenses and repayment of credit card liabilities in case your income suddenly drops or stops due to unemployment or incapacity for work.
Now insuring your liabilities is as natural as insuring your car, home or life.

We will reimburse 5% a month of the outstanding balance on your credit card for a period of up to one year in case of job loss or incapacity for work due to an illness or trauma.

We will repay any remaining outstanding balance on the credit card if you’re unable to find new employment after a year.

Example: Jānis’ story

Jānis worked as a sales manager. His work was praised and he was promised a pay rise soon. Jānis decided not to wait for the rise and purchased new furniture for his apartment using credit card. Unfortunately, one day the boss informed him that their company will be merged with other company and Jānis will be out work. The only good news in this situation was that the bank employees had also offered Jānis credit card liabilities insurance when he was taking out the credit card.

The outstanding balance on the credit card at the time when Jānis was given the notice of termination amounted to €980. Each month the insurance will cover 5% of the outstanding balance for a period of up to one year, i.e. €49 a month. Unless Jānis finds new job, insurance will cover the remaining €441 on the 12th month.