YOUR UAB CREDIT CARD PROTECTS YOU FROM UNEXPECTED SURPRISES
Complimentary credit shield insurance to secure your credit card balance.
Credit Shield Insurance is available to all United Arab Bank credit cardholders and can provide you and your family with a financial ‘safety net’ in unforeseen circumstances,for example, in the event of death, critical illness or even involuntary loss of your employment.
Credit Shield ensures United Arab Bank credit cardholders are safeguarded against being in default in a crisis situation.
Program Features:
Your credit card balance (outstanding not cleared by the due date) is secured and covered for payment in case of:
All new credit cardholders are entitled to Credit Shield within a window of 5 months.
Program Snapshot
Jurisdiction | United Arab Emirates |
Maximum Limit person | For Death and Permanent Total Disablement (PTD) AED 150,000. For Hospital Cash Benefit (HCB) Daily indemnity of AED 200 (for each day the cardholder is admitted to hospital) subject to a maximum of 30 days in a policy year, i.e. AED 6,000 total. For Involuntary Loss of Employment (ILOE) 10% of the actual outstanding balance as on the date of notice of termination is served subject to a maximum of AED 4,000 per month, subject to a maximum of 12 months, AED 48,000 total. |
Indemnity Period | Hospital Cash Benefit 30 days. Involuntary Loss of Employment 12 months. |
Minimum Age at Issue | 18 completed years. |
Maximum Age at Issue | 64 completed years for Death, PTD and HCB. 59 completed years for ILOE. |
Maximum Coverage Age | 65 completed years for Death, PTD, and HCB. 60 completed years for ILOE. |
Premium | 0.89% on revolving card balance. |
To find out more about Credit Shield, please call 800 474
See Terms and Conditions.
Disclaimer:
United Arab Bank is acting as a distributor of Credit Shield Insurance and shall not be responsible for the Insurance Company's actions or decisions nor shall United Arab Bank be liable regarding payment of any claims under the Insurance Policy contract issued by Union Insurance Company P.S.C. Union Insurance is a private joint stock company, licensed by the UAE Insurance Authority and listed on the Abu Dhabi Securities Exchange.