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Enjoy complete peace of mind with HSBC Credit Shield plus.

As an HSBC Cardholder, you can now benefit from an optional comprehensive Credit Shield Plus against your outstanding balance, in the event of Permanent Total Disability, Involuntary Loss of Employment for employed eligible cardholders, Total Temporary Disability for self-employed eligible cardholders or Death.

The Credit Shield Plus was applied to all the cards currently enrolled under Credit Cover with effect from the first of June 2010.

For new cardholders, Credit Shield Plus benefit is systematically proposed simultaneously with his application. Cardholder should opt for the coverage while applying for the Card. Premium will be charged at 0.65% of your monthly outstanding balance and will appear on your monthly statement.

In the event of Permanent Total Disability or Death of the Primary Cardholder, 100% of the outstanding balance on the Card is settled up to a maximum of USD150,000 for Premier Cards, USD50,000 for Platinum Cards, USD50,000 for Advance Cards, USD25,000 for Gold Cards and USD10,000 for Classic Cards.

In the event of Involuntary Loss of Employment or Total Temporary Disability, one monthly minimum installment due on the previous month’s credit card statement is settled for each period of 30 days up to a maximum of 3 monthly payments for any one claim.

Summary of benefits

The Cardholder's outstanding balance is covered in the event of Permanent Total Disability, Involuntary Loss of Employment for employed eligible cardholders, Total Temporary Disability for self-employed eligible cardholders or Death subject to the limit of benefits and exclusions.

Limit of benefits*

100% of outstanding balance up to USD150,000 (Premier Cardholders), USD50,000 (Platinum Cardholders), USD50,000 (Advance Cardholders), USD25,000 (Gold Cardholders) and USD10,000 (Classic Cardholders).

*Benefits are subject to an aggregate of USD150,000 on all types of Cards held by the Cardholder

In the event of Involuntary Loss of Employment or Total Temporary Disability, one monthly minimum installment due on the previous month's credit card statement is settled for each period of 30 days up to a maximum of 3 monthly payments for any one claim.

Eligibility

All HSBC Credit cardholders between the age of 18 and 64 may choose to be enrolled to benefit from Credit Shield Plus. The cover will cease when the Cardholder attains 65 years of age.

Monthly cost

The premium is charged at 0.65% per month of the Cardholder's monthly outstanding balance and will appear on the Monthly Statement.

In the event of a claim
Just call us 961 3 or 1-364722 and submit the following documents within 90 days of the incident:

Documentation

Death

• Original death certificate indicating exact cause of death
• Detailed medical report if cause of death is not stated in the death certificate
• Police report if death occurs due to an accident or murder
• Post mortem of coroner's report if conducted
• Copy of passport or ID Card of the deceased

Permanent Total Disability

• Evidence that the insured credit cardholder was carrying a registered occupation on the 1st day of the continuous period of disability
• Medical certificate delivered by a registered physician establishing the state of permanent and total disability, according to the definition given by the insurance policy
• All relevant X-Rays/CT Scans/MRIs/Lab tests and reports
• Police Report is required if accident occurs in certain countries (which will be advised at the time of notification)

Total Temporary Disability

• Evidence that the insured Credit cardholders was carrying a registered occupation on the 1st day of the continuous period of disability,
• Certificate of the registered physician who prescribed the absence from work due to sickness or accident, indicating its cause and probable duration.
• Evidences of payment of disability allowances (for sick leave, work injury) by the National Insurance Scheme, if any
• An official personal identity document of the Insured Credit cardholders and any other additional document that may be asked by the Claims Department of the Insurance Company.

Involuntary Loss of Employment

• Letter of employment indicating period of employment
• National Social Security Fund (NSSF) number if applicable
• A letter by means of which dismissal or redundancy was notified to the insured credit cardholder by his employer including the date, the cause and the effective date of dismissal.

Significant exclusions applicable in case of Death and Permanent Total Disability

• Pre-existing conditions
• Suicide while sane or insane
• A sickness directly or indirectly attributed to HIV and/or any related illness including AIDS
• Abuse of alcohol or drugs
• War, or riot, or civil commotion, acts of terrorism
• Radioactive contamination
• Service in armed forces while on duty and active war
• Illegal act/criminal activity
• Flight in a non-scheduled aircraft
• Participation in any sport involving a motor engine (including rallies), professional sports, boxing, scuba diving, parachuting or hang-gliding, horse racing and mountain climbing.

Claimants must not delay submitting claim documents longer or more than 180 days of death.

Additional exclusions for Permanent Total Disability

• Self-inflicted bodily injury while sane or insane
• Psychiatric illness or any mental or nervous disorder
• Subjective complaints not detectable with laboratory measurement, microbiological, biochemical means and/or imaging
• Failure to undergo medical treatment recommended by a legally qualified medical practitioner

There must be at least 12 continuous months elapsed from the commencement of total disability before it can be recognised as being permanent. However, in case of the total and irrevocable loss of sight of both eyes, or of the loss by severance of two or more limbs (at or above wrist or ankle), the waiting period of 12 months can be waived and the state of PTD be recognised immediately

Total Temporary Disability: Same as for Life & PTD, plus

• Any mental condition, including but not limited to nervous breakdown, depression, anxiety or other stress related condition.
• Backache and related conditions, unless there are definite clinical findings, such as radiological medical evidence of abnormality.

Involuntary Loss of Employment

• Loss of employment which is notified during the deferral of coverage period,
• The severance or the natural expiry of a fixed term contract of employment or of an interim contract,
• Retirement or early retirement,
• If insured does not have a valid Lebanese resident or employment visa (expats),
• Dismissal or redundancy when the employer is a next of kin of the claimant, or when the claimant is a shareholder of the company or a member of its board,
• Resignation or voluntary redundancy, including cases of rejection of other suitable job in company due to organisational changes,
• Self-employment,
• Dismissal by reason of misconduct,
• Strikes, lockouts or other organised labour disputes or any unlawful acts
• Partial, seasonal or casual employment,
• Non-receipt of proof of NSSF certification on unemployment.
• Employees who are on probation

Employment on a fixed term contract for less than 2 years or part time or temporary employment (contracts for less than 2 years can be accepted in respect of pre-approved companies on case-by-case basis)

The cardholder should refer to the policy terms and conditions for all exclusions.

Credit Shield Plus benefit is offered by HSBC Insurance Services (Lebanon) s.a.l. and the insurance is underwritten by American Life Insurance Company (ALICO).