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Credit Shield
 

The "Credit Shield" & "Credit Shield unemployment" programs are innovative provisions that are offered to our customers with low cost, in co-operation with the insurance company MetLife (119, Kifisias Ave., 151 24 Marousi, Athens - Greece) and MetLife Europe Insurance Limited, based in Dublin (20 on Hatch, Lower Hatch Street, Dublin 2, Ireland) respectivly. The "Credit Shield" program covers you in case of loss of life, serious injuries and particular diseases and the "Credit Shield unemployment" program covers you apart from all the above and in the additional event of loss of job.

With both programs you are protected whatever happens to you as per the specific Terms & Conditions, your card will be paid off, as long as you are enrolled.

Please note that your participation to any of the aforementioned programs is not obligatory for the card acquisition and retention. During your participation in the program you must be under 60.

Below you will find a short description of each program’s covers.

Á. Provisions

1.  LIFE COVERAGE
In case of death due to any any cause, the Insurance company will pay a) the Bank with the 100% of the outstanding balance defined in the last monthly statement prior to the date of Death, plus the corresponding debit interest for a period of 2 months after the insured’s date of death and b) to the legal heirs of the insured the 100% of the outstanding balance defined in the last monthly statement prior to the date of Death, plus the corresponding debit interest for a period of 2 months after the insured’s date of death. The maximum amount paid for the 2 cumulative benefits set at €60.000,00.

2. PERMANENT TOTAL DISABILITY COVERAGE
In case of Permanent Total Disability due to Accident or Sickness, the Insurance company will pay a) the Bank with the 100% of the outstanding balance defined in the last monthly statement prior to the date of Death, plus the corresponding debit interest for a period of 2 months after the insured’s date of death and b) to the beneficiary the 100% of the outstanding balance defined in the last monthly statement prior to the date of Death, The maximum amount paid for the 2 cumulative benefits set at €60.000,00.

3. TEMPORARY TOTAL DISABILITY COVERAGE
In case of Temporary Total Disability due to any cause, after the 31st day of disability, for 12 months, the 10% of the outstanding balance after deducting any additional charges levied under the terms of the card agreement, with a minimum amount of Euro 15 is paid for each period of 30 days of proved disability after the waiting period, and maximum EURO 3.000 per insured and per month.

4. CRITICAL ILLNESS INSURANCE
If the customer suffers of Critical illness, after of three months of coverage, and more particularly from any of the following illnesses, blindness; malignant cancer; chronic renal failure; coronary artery bypass surgery; heart attack; major organ transplant surgery; stroke, the insurance company will pay the 100 % of the outstanding balance defined for benefit calculation of the credit card on the claim date. Critical Illness benefit is payable only once, as a lump sum (max amount 30.000). This benefit cannot be cumulated with any other benefit defined under the policy. Insurance automatically stops as soon as a Critical Illness benefit is paid.

For your more complete protection even for the incident of unemployment, we designed the "Credit Shield unemployment program" that apart from the aforementioned provisions offers you coverage in case of involuntary unemployment.

5. INVOLUNTARY UNEMPLOYMENT INSURANCE
In the event that the insured, during the course of his insurance, is working and becomes Involuntarily unemployed, a monthly benefit equal to the minimum amount of the credit card debt, will be paid on your account to Citibank International Plc. as it appears on the last bill issued prior to date of the commencement of such unemployment. During your participation in the program you must be under 56.

The cost is 0.3% for Credit Shield and 0.7% for credit Shield Unemployment on the monthly outstanding credit card balance.

* The cost of Credit Shield is calculated as below;
Example 1:
(Credit card balance first month = 1,200) X (Percentage cost of Credit Shield 0,3%) = 3,6 euro
Example 2:
(Credit card balance 2nd month = 900) X (Percentage cost Credit Shield 0,3%) = 2,7 euro

The cost of Credit Shield unemployment is calculated as below;
Example 3:
(Credit card balance first month = 1,200) X (Percentage cost Credit Shield Unemployment 0,7%) = 8,4 euro
Example 4:
(Credit card balance 2nd month = 900) X (Percentage cost Credit Shield Unemployment 0,7%) = 6,3 euro

CLAIM
Customers, who enrol in the program, can call at a dedicated line at Metlife (210-8787500 - 502) for servicing the products. To file a claim for compensation please click here.

CANCELLATION – WITHDRAWAL - OPPOSITION
The insured has the right to cancel the coverage at any time by written declaration to Citibank or by calling CitiPhone (210-9290000).

The customer has the right of withdrawal-opposition, within 30 days of receipt of the Written Terms and Conditions of the Program with a full refund of the premium paid. The withdrawal leads to the depreciation of the obligations of the insured, under the terms of the insurance contract. The withdrawal right is suspended during the period the customer has the right of objection. This request should be sent by mail to Citibank Customer Service, PO. Box  19186, Postal Code 11710, Athens or by fax in the same service (210-9239181) or by calling CitiPhone (210-9290000).

REQUEST – COMPLAINT
If the customer has a request/complaint regarding a product or service offered by the bank, s/he may contact:
a) Any Citibank Branch in Greece
b) CitiPhone (+30210-9290000), the customer telephone service of Citibank International plc, or
c) The Bank Customer Service, PO Box 19186 Postal Code 11710 Athens, and Citibank will respond no later than 45 calendar days, from the day of the request/complaint.

In case the request/complaint has not been resolved satisfactorily, the customer may contact:

  • the Supervision of Private Insurance in Greece, Bank Of Greece (BOG) and
  • "Ombudsman", at 144 Alexandras Ave. 114 71 or at +30210-6460276

Find out more information about the program "Credit Shield":

  • Any Citibank branch in Greece
  • Citiphone

 

 

 

 

 

 

 

 

 
 
 
 
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