New Delhi: Nowadays a large number of people use credit cards. In such a situation, many card companies are also providing insurance security to their customers without any premium. However, not many people are aware of this. One of these special facilities is unemployment insurance, which covers the minimum payment amount of your card when you lose your job.
Apart from this, you also get many benefits with the card. These include accident insurance, travel insurance, purchase protection and protection from fraud. In such a situation, if you also use a credit card, then it is important for you to know how your card can be useful for you.
Insurance associated with credit card?
Credit Life Insurance: If the credit cardholder suddenly dies or is unable to pay the card dues for any reason, then the bank pays his outstanding amount itself.
Disability Insurance: If a cardholder becomes unable to work due to any illness or accident, then the minimum payment amount of the card is covered by insurance for some time. However, new expenses are not included in it.
Unemployment Insurance: Not only this, if a person is fired from his company, then the insurance company pays the minimum payment amount of the card. It is worth noting that new expenses made after losing the job are not included in it.
Purchase Protection Insurance: Some credit card companies also provide purchase protection cover to the customers. Under this, if you buy any item with your card and it gets stolen or damaged, then the insurance company compensates for it. However, this facility is applicable on purchases made within a certain limit.
Other insurance available on credit card
Apart from this, some credit cards also offer travel insurance. It covers lost luggage, cancelled trip or medical emergency abroad. Some card companies also provide accidental insurance. Under this, insurance amount is received in case of death or injury in a road or air accident.
