Free insurance policies with credit cards
By Ankit Sharma
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Have you ever read the service guide that comes along with your new credit card? If not then you should go through it carefully because there are various insurance covers that are extended to the cardholder. In fact there are covers that provide insurance to both the applicant and the card issuer in case of an unfortunate demise of the cardholder.

There are various credit card insurance benefits that are available in the market but you might not be aware of them. Here are some of the credit card insurance benefits that you can avail and remain safe.

Credit Life Insurance

In case the cardholder expires, the insurance company will pay off the debt you owe. However the amount that would be covered will vary from bank to bank and also depend on the type of the credit card. For instance in case of accidental death, there is a cover from Rs 2 lakh to Rs 40 lakh that is provided to the beneficiary. But to claim this benefit, you need to provide a death certificate and inform the insurance company within 30 days of the cardholder's death. The claim must be made within two months of the death due to an accident.

Credit disability insurance

This insurance protects your credit rating by paying your monthly minimum payment if you become medically disabled. There is a set time period for which the payments will be made and purchases made after the disability will be not covered.

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