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Credit Shield
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Secure the insecurities.
Credit card balance settlement for any unforeseeable events.
Insurance premium
Only 0.10%*
Monthly compensation
10% of the total outstanding credit card balance** Maximum 10 months In case of temporary total disability
Protection on the outstanding card balances
Within the card limit, or not more than 500,000 baht in case of death or total permanent disability
*Of the total outstanding credit card balance per month (up to 500,000 baht per card).
**As of the starting date of total temporary disability or up to 50,000 baht per month as long as remaining disabled.
Coverage and Conditions
Coverage |
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In case of death or total permanent disabilityProvides coverage for the total outstanding balance of the credit card as of the date of death or date when total permanent disability or damage occurrence begins, up to the credit card limit or up to 500,000 baht. In case of total temporary disabilityProvides coverage for monthly compensation of 10% of the total outstanding balance as of the date when total temporary disability begins. The coverage is up to 10% of the credit card limit as of the date when total temporary disability begins, or up to 50,000 baht continuously for up to 10 months as long as the state of total temporary disability remains in effect, during which the amount shall not exceed the credit card limit or a maximum coverage of 5 million baht, whichever is the lesser amount. |
Integrity of the insurance contract |
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Should the policy holder and/or the insured knowingly misrepresent any fact and fail to disclose that fact to the company, if that fact becomes known to the company, that may lead the company to charge a higher premium or decline to enter the insurance contract; the insurance contract shall become void according to Section 865 of the Civil and Commercial Code, and the company may nullify the insured's contract. |
Circumstances that the company does not cover |
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- The insured voluntarily commits suicide within 1 year of the contract date
- The insured is willfully killed by the beneficiary
- The insuring or insured party misrepresents his or her actual age, and the company is able to prove that upon entering the insurance contract, the actual age falls outside the insurance premium rate limit based on the normal trade of the company
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There are 7 exceptions to paying benefits in case of total permanent disability, as follows: |
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This insurance contract does not cover disability due to the following causes: - Prior illness for which the insured is examined, treated, diagnosed, or provided with consultation before the effective date when the insured joins the insurance
- When the insured commits a crime with a severe offense or during the course of being arrested by officers due to that crime
- During war (declared or undeclared), invasion, or other act of a foreign enemy, civil war, revolution, rebellion, civil unrest including protests against the government, riot, labor strike, act of terrorism, etc.
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Life Insurance Provider
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Life Insurance Company
Muang Thai Life Assurance Public Company Limited | Life Insurance Broker
Kasikornbank Public Company Limited as the brokerage firm License No. Chor. 00024/2546 |
Note:
- KASIKORNBANK PCL, as life insurance broker, presents life insurance products and facilitates payment of premium only. Muang Thai Life Assurance Public Company Limited is responsible for the conditions, coverage and entitled benefits as stated in the insurance policy conditions.
- Buyer should have an understanding in details of the coverage and conditions before making a decision to purchase an insurance every time.
- Underwriting is subject to the Company’s rules.
- Benefits, coverage and exclusions shall be in accordance with the conditions stated in the insurance policy. Please study the additional details in the policy.
Frequently Asked Questions
What is Credit Shield Insurance?
This insurance is intended to protect the outstanding balance of a credit card by providing coverage in case of death, total and permanent disability, or total and temporary disability; the coverage will be effective as long as the insured remains a member of the card and participates in the coverage even if the card number is changed in the course of the bank issuing a new card.
What are the qualifications of the insured?
Age 20 - 64 years old and healthy.
How is the premium paid?
The insurance premium payment can be done via credit card.
How is the premium calculated?
The premium is calculated as 0.10% of the total cost of all outstanding credit per month (with a maximum of 500,000 baht).
How can I apply for Credit Shield Insurance?
Applicants can apply for this insurance when applying for Kasikorn Thai credit cards; if you are interested in this insurance after your card has been approved, contact Kasikorn Thai.