Insurance from Credit Cards

Some premium credit cards in India automatically come with various types of Insurance.For instance, HSBC Credit Cards in India cover Platinum Card holders with an insurance cover of upto Rs 1 cr if the card holder deceases in Air accident. While the same comes down to Rs10 lakh for accident by road or rail.

There are some companies offering Insurance with “death due to any cause” clause. This covers the recent events like Mumbai 26/11. The Indian Insurance Regulator – IRDA has advised all credit card companies to honour the claims if they have published the above mentioned clause in the terms & conditions.

Some credit card companies offer special personal accident insurance at a small premium and is usually upto Rs 2 lakh for classic card holders and Rs 4 lakh for Gold card holders. One of the problems with crdit card companies in India is, they change the terms and conditions too often and fail to communicate to the customer leading to disputes.

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