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Credit card insurance

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Protection of the insured and his/her family when holding a revolving credit linked to a credit card.

Insurance for the credit card to which the revolving credit is linked, in the event of unexpected events, will allow the Insured and his family to repay the current debt.

Credit card insurance distributed through Bank Millennium S.A. includes:

 

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Insured risks


The main risks that are covered by the credit card insurance we offer are death and permanent and total disability. Depending on the source of income, the insurance cover may also cover the loss of employment and temporary incapacity for work.

Benefits in the event of an insured event


We declare to pay the beneficiary up to 106% of the amount of the debt that remains to be repaid on the day preceding the occurrence of the event resulting in permanent and total inability to work. After meeting the conditions in the event of loss of employment or temporary inability to work, we undertake to pay up to 6 monthly payments required by the bank to the account of the credit card to which the revolving credit is linked.

 

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How does the insurance of the credit card to which the revolving credit is linked work?

By opting for this solution, the holder of the credit card limit provides himself and his family with insurance protection in the event of unforeseen random events that may occur during the term of the revolving loan. This includes death and permanent and total incapacity for work and, in some cases, temporary incapacity or loss of work. In such a situation, the insurer assumes the obligation to repay the remaining debt on the credit card, thus freeing the insured or their relatives from it.