Your Credit Union Credit Card provides you with a convenient way to pay for purchases, but what if you were unable to pay your balance or even your minimum monthly payment?
Every day, accidents and death leave cardholders and their loved ones with unplanned debt. If this were to happen to you, what would you do? Credit Card Balance Protection Insurance can help.
CUMIS offers comprehensive balance protection at an affordable price, based on the outstanding account balance on the statement billing date. The cost of this insurance is conveniently added to your credit card statement each month and if you do not have a balance, you do not pay.
Our Benefits – Your Peace of Mind
Life, Critical Illness and Accidental Dismemberment/Paraplegia
The amount of insurance benefit is equal to the account balance on the date of loss, subject to the maximum benefit payable (stated in the certificate). Coverage is available up to the maximum age stated in the certificate.
Disability, Strike Coverage, Involuntary Loss of Employment and Loss of Self-Employment
The amount of monthly benefit is equal to a percentage of the outstanding account balance on the statement billing date immediately preceding the date of disability, involuntary loss of employment, loss of self-employment or from the first day you go on strike. Coverage is available up to the maximum age stated in the certificate.
You will have a 30-day free look and can cancel your coverage at any time. If you decide not to continue with the insurance, simply call the toll-free number on your statement before the end of the 30-day trial period and any charges you may have incurred will be reversed, and we will cancel this insurance on your account.
If you would like more information on how any of our products can help protect your credit union and your members call our Customer Contact Centre:
Payment protection coverage is optional and is underwritten and provided by CUMIS Life Insurance Company. Coverage is governed by the terms and conditions of the creditor group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details. CUMIS® is a trademark of CUMIS Insurance Society, Inc.