Credit Cover Summary of Benefits

Insurance is underwritten by American Life Insurance Company (ALICO). The customer will not hold HSBC responsible whether for compensation, processing of claims or otherwise.

100% of the Cardholder's outstanding balance is covered in the event of permanent total disability or death.

Limit of Benefits*

100% of outstanding balance up to OMR 7,500 for HSBC Gold Credit Card.

*Benefits are subject to an aggregate of OMR 20,000 on all types of Cards held by the Cardholder

Eligibility

All Cardholders between the age of 18 and 64 are automatically enrolled to benefit from Credit Cover. The cover will cease when the Cardholder attains 65 years of age

Monthly Premium

The premium is charged at 0.20% per month of the Cardholder’s monthly outstanding balance and will appear on the Monthly Statement.

In the event of a Claim

Just call us on 800 7 4722 and submit the following documents within 90 days of the incident:

Death

Original death certificate indicating exact cause of death

Detailed medical report if cause of death is not stated in the death certificate

Police report if death occurs due to an accident or murder

Post mortem of coroner's report if conducted

Copy of passport or ID Card of the deceased

Permanent Total Disability

Detailed Medical report indicating nature and date of onset of ailment/risk factors/accident as well as degree of disability

All relevant X-Rays/ CT Scans/ MRIs/ Lab tests and reports

Police Report is required if accident occurs in certain countries (which will be advised at the time of notification)

Exclusions applicable in case of Death and permanent total disability

Pre-existing conditions

A sickness directly or indirectly attributed to HIV and/or any related illness including AIDS

Abuse of alcohol or drugs

War, or riot, or civil commotion, acts of terrorism

Radioactive contamination

Service in armed forces while on duty and active war

Illegal act / criminal activity

Flight in a non-scheduled aircraft

Participation in any sport involving a motor engine (including rallies), professional sports, boxing, scuba / skin diving, parachuting or hang-gliding, horse racing and mountain climbing

Additional exclusions for Permanent Total Disability

Self-inflicted bodily injury while sane or insane

Psychiatric illness or any mental or nervous disorder

Subjective complaints not detectable with laboratory measurement, microbiological, biochemical means and/or imaging

Failure to undergo medical treatment recommended by a legally qualified medical practitioner