Credit Card Protection insurance

Coverage to help you and your family stay financially on track through unexpected events.

What is Bristol Credit Card Protection?

This optional insurance1 coverage can offer you and your family the financial protection you need by paying off your outstanding account balance or help cover your monthly credit card payments as a result of certain unexpected events.

Two different coverage bundles to choose from:

Basic Protection 

  • Life Benefit
  • Critical Illness Benefit  
  • Hospitalization Benefit

Comprehensive Protection

  • Life Benefit
  • Critical Illness Benefit
  • Hospitalization Benefit
  • Disability Benefit
  • Job Loss Benefit
  • Strike or Lockout Benefit

Life

This coverage can pay your outstanding account balance, up to $50,000, if you pass away.

Critical Illness 

This coverage can pay your outstanding account balance up to $50,000 if you are diagnosed with a covered critical illness (i.e. heart attack, stroke, coronary artery bypass surgery, cancer, blindness, paralysis, deafness and coma).

Hospitalization

This coverage can pay your outstanding account balance up to $50,000 if you are hospitalized due to an accidental bodily injury or unforeseen sickness.

Disability*

This coverage can provide a monthly benefit equal to 20% of your outstanding account balance, up to $10,000 per month, for up to 5 months if you are unable to perform the essential duties of your job due to sickness, injury, mental illness or nervous disorder.

Job Loss*

This coverage can provide a monthly benefit equal to 20% of your monthly outstanding account balance, up to $10,000 per month, for up to 5 months if you are unable to work due to an involuntary Job Loss.

Strike or Lockout

This coverage can provide a monthly benefit equal to 20% of your monthly outstanding account balance, up to $10,000 per month, for up to 5 months if there is a disruption to your work by an employee group to which you belong to or if your employer temporarily suspends your employment without ending it during a labour dispute.

Purchase protection coverage

If a product you bought with the card is damaged, stolen or lost within a certain time frame (typically a few months), this coverage can reimburse you for the purchase price.

Return protection coverage

If you make a purchase and want to return it after the return period has passed, you'd normally be out of luck. With this coverage, you may be able to get a refund for the purchase after the return period expiration.

Who can apply for Bristol Credit Card Protection?

To apply for Bristol Credit Card Protection coverage, you need to have an eligible Bristol Credit Card account in good standing, be a resident in the United States of America, and be a minimum of 18 years of age and under 70 years of age. 

How are my Premiums Calculated?

For Comprehensive Protection the monthly premium rate is $1.09 per $100 of your account balance, calculated daily and for Basic Protection the monthly premium rate is $0.89 per $100 of your account balance, calculated daily until your 70th birthday, at which time both bundles reduce to only the Life Benefit at a monthly premium rate of $0.49 per $100 of your account balance, calculated daily. Provincial sales taxes are also added, where applicable.

To learn more about how your premiums are calculated, speak with an advisor to get detailed premium rate information.

30-day right to examine your coverage period

If you decide our credit card insurance is not right for you, cancel within 30 days to receive a full refund of any premium paid.

Bristol Credit Card Protection is underwritten by Chubb Life Insurance Company of Canada: Tel: 1-800-387-7199, Option 3 www.chubb.com under a Group Policy issued to Bristol Credit.  All coverage is subject to the terms and conditions outlined in the Certificate of Insurance which you will receive upon enrolment. 
*
To be eligible for Disability or Job Loss benefits (included with the Comprehensive Protection bundle only), you must be employed at least 90 consecutive days for at least 20 hours each week immediately prior to the date of Disability or Job Loss. For students enrolled in post-secondary education, the number of employment hours required each week is 10. To be eligible for self-employment Job Loss benefits under the Comprehensive Protection bundle you must be unemployed for 90 consecutive days from a business that has been registered for a minimum of 12 consecutive months prior to the date of Job Loss.
1
A waiting period and pre-existing conditions apply to certain coverages. Critical Illness, Hospitalization, Disability, Job Loss and Strike or Lockout coverages end at age 70; however, Life insurance coverage remains in place until the Primary Borrower reaches age 80. Full details of the coverage, including when coverage begins and ends, how to make a claim, terms and conditions, and limitations and exclusions, are outlined in the Certificate of Insurance.