Credit Card Holders: You Get These Insurance Benefit On Your Card

Apart from the usual benefit that come with credit card such as cash withdrawal, balance transfer and the facility to transfer the outstanding amount against credit card usage into EMI, different credit card issuers offer varied credit cards with different insurance benefits. Here are listed below some of the most commonly offered insurance benefits that credit cardholders get:

Credit Card Holders: You Get These Insurance Benefit On Your Card

1. Zero-liability insurance: This is one insurance benefit that credit card holders must necessarily opt for. It comes into play in a case when your credit card gets stolen and you report of the theft to credit card issuer and concerned authorities.

2. Lost baggage insurance: Lost, damaged or delayed baggage cover compensates if a traveller's luggage is mishandled. It serves as a back up over and above what the airline pays for your loss. Notably, an individual is entitled to claim the benefit if his or her baggage is not returned within 48 hours at the arrival destination. Herein the mode of payment for the travel should be credit card.

And for making the claim, cardholder needs to get the confirmation on the delay or theft of baggage from the airline, upon which necessary claim request for the insured amount can be placed with the credit card company.

3. Accidental death benefit: In a case when the credit cardholder meets unfortunate death due to some accident, some of the card companies allow waiver on the outstanding credit card bill by as much as Rs. 50,000. Though the relaxation amount varies from company to company. When the card is not in active use, one needs to produce the death certificate for claiming the benefit.

4. Trip cancellation insurance: Though this benefit is not always available with each of the credit card, it compensates for the loss that accrues due to last-minute cancellation of non-refundable flight. The claim in case when the airline ticket is cancelled due to bad or changing weather or previous sickness is not entertained in some of the cases while some of the credit card companies still cover it.

5. Rental car insurance: If you have rented a car without an insurance and somehow confront an unfortunate accident with major vehicle damage then instead of payong for the loss from your own pocket you can turn up to the card issuer provided you have made the payment for renting facility via your credit card. Notably, such a cover do not provides compensation for damage caused to other vehicles, loss of valuables or personal injuries that result from the accident.

Though these are some not so known insurance benefits that credit card holders get, exact picture can be learnt from the guide that comes with the welcome kit of credit card.

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