pds - credit shield premier upgrade(eng) - tm

8/9/2019 PDS - Credit Shield Premier Upgrade(Eng) - TM

1/5

PRODUCT DISCLOSURE SHEETFor a better understanding of this product, please read this Product Disclosure Sheet. Be sure

to also read the general terms and conditions.

Credit Shield Premier Underwritten by : AIA Bhd

DISTRIBUTOR & ADDRESS:Citibank BerhadMenara Citibank165 Jalan Ampang50450 Kuala Lumpur

THINGS YOU NEED TO KNOW

1. What is this product about?

This policy is a non-participating yearly renewable credit insurance that offers insuranceprotection on the outstanding balance in respect of your Credit Card Facility upon Death,Temporary Total Disability, Permanent Total Disability or Critical Illness.

In addition, there is a No Claim Bonus (NCB) benefit which is equal to ten percent (10%) of all thepremiums paid by you in a particular Policy Year provided that the policy is still in force and noclaim was made for the one (1) year period before the Policy Anniversary Date of that PolicyYear. This No Claim Bonus (NCB) shall be paid at end of every Policy Year

This policy will terminate upon you attaining age sixty-five (65) years.

2. What are the covers/benefits provided?

Benefits Coverage

DEATH BENEFIT A. Settles your credit cards OutstandingBalance (as at the date of death,permanent total disability or diagnosis ofcritical illness), up to a maximum ofRM100,000 for Classic* or Gold InsuredCard Member and RM300,000 forPlatinum Insured Card Member.

B. Pays an amount which is equal to theOutstanding Balance (as at the date ofdeath, permanent total disability ordiagnosis of critical illness) up to amaximum of RM100,000 per Classic orGold Insured Card Member and amaximum of RM300,000 per PlatinumInsured Card Member) to:

Your Nominee (in the event of death);or

You (in the event of permanent total

disability or upon diagnosis of criticalillness)

PERMANENT TOTAL DISABILITYBENEFIT

CRITICAL ILLNESS BENEFIT

TEMPORARY TOTAL DISABILITYBENEFIT

Pays ten percent (10%) of the OutstandingBalance as at the date of disability subject toa maximum of twelve (12) monthly payments.The monthly disability benefit is subject to a


2/5

2

Benefits Coverage

maximum of RM10,000 per month for eachClassic* or Gold Insured Card Member andRM30,000 per month for each PlatinumInsured Card Member. The amount ofmonthly benefit shall remain constant oncedetermined at the date of disability.

The monthly disability benefit will cease ifyou recover from the disability. In the eventof death, permanent total disability ordiagnosis of critical illness prior to completionof payment of the benefit, the remaining sumwill be payable in a lump sum.

No Death and/or Additional Death Benefit,Permanent Total Disability and/or AdditionalPermanent Total Disability, Critical Illnessand/or Additional Critical Illness Benefit, shallbe payable together with the Temporary

Total Disability Benefit.

NO CLAIM BONUS (NCB) BENEFIT You will receive a No Claim Bonus (NCB)which is equal to ten percent (10%) of all thepremiums paid in a particular Policy Year,provided that your policy is still in force andno claim was made for the one (1) yearperiod before the Policy Anniversary Date ofthat Policy Year.

* Classic shall mean all Citibank Credit Cards except for Gold and Platinum Cards

** Note: If You submit a claim that falls within the previous Policy Year after receiving the No

Claim Bonus (NCB) payment, We shall recover the refund by deducting from the claim payment.

3. How much premium do I have to pay?

The amount of premium to be paid shall be based on your outstanding balance as at the monthlybilling dates and at RM6.90 per RM1,000 of outstanding balance. For e.g. if your monthly creditcard statement shows a statement balance of RM 800.00, the premium for the month would beRM 5.52.

The premiums may change subject to Our discretion and We reserve the right to revise thepremiums by giving thirty (30) days written notice.

4. What are the fees and charges that I have to pay?

Type Amount

Maximum Direct Distribution Cost payable toIntermediary

10% of the total monthly premium

Please note that the maximum Direct Distribution Cost payable will vary according to the premiumamount.

5. What are some of the key terms and conditions that I should be aware of?

(a) Importance of disclosure You are required to disclose all the facts which you know or

ought to know during enrolment. If any declaration is untrue in any respect or if the insuranceunder the policy was obtained through fraud, the policy issued may be invalidated by theInsurer.

(b) Cooling Off Period You may cancel your insurance by returning the Certificate ofInsurance within thirty (30) days from the date of delivery of the Certificate of Insurance. The


3/5

3

premiums that you have paid (less any medical fee incurred, if any) will be refunded to youprovided no claims have been paid during this cooling off period.

(c) NominationYou are encouraged to appoint a nominee(s) in the attached nomination formas it will expedite claim settlement. Please ensure that your nominee is aware of the policythat you have purchased.

Important notice:o It may not be advantageous to switch from one Medical and Health Insurance plan to another,

as you may be subject to new underwriting requirements, full waiting period and anyapplicable period for the exclusion of specified illnesses/pre-existing conditions of the newinsurance policy.

o Please note that the limitations, terms and conditions as stated in this Product DisclosureSheet are not exhaustive. Please refer to the Certificate of Insurance for detailed benefits,limitations, terms and conditions. The contents of the Certificate of Insurance shall prevail ifthere is any discrepancy between the Product Disclosure Sheet and the Certificate ofInsurance.

o In the event of unsuccessful crediting of NCB due to credit cards cancellation and the NCBamount is less than RM1.00, please contact AIA Bhd. at 1800 38 3464 for payment via

cheque.

6. What are the major exclusions under this policy?

The major exclusions are stated as below:

Death: -

(a) From suicide within twelve (12) months from your Effective Date of Coverage into theCredit Shield Premier Insurance.

(b) Due to any illness or injury for which you have taken any treatment or advice withintwelve (12) months prior to the Effective Date of Coverage into the Credit Shield PremierInsurance.

(c) Due to any illness occurring within thirty (30) days from your Effective Date of Coverageinto the Credit Shield Premier Insurance.

Temporary Total Disability and Permanent Total Disability:-

(a) Due to any illness or injury for which you have taken any treatment or advice withintwelve (12) months prior to the Effective Date of Coverage into the Credit Shield PremierInsurance.

(b) Due to any illness occurring within thirty (30) days from your Effective Date of Coverageinto the Credit Shield Premier Insurance

(c) Occasioned or contributed to by war, or hostilities (whether war be declared or not), or

due to intentional self injury.

(d) Sustained whilst under the influence of intoxicants, drugs or is suffering from insanity.

(e) Sustained whilst engaged in flying for the purpose of any trade or technical operation oras a member of an air-crew or in any other aerial activities except whilst travelling as apassenger in an aircraft operating on a scheduled service.

(f) Occasioned or contributed to by HIV infection, AIDS related conditions.

(g) Pregnancy or any related complications arising from it.

(h) Resulting while sane or insane from attempted suicide.

Critical Illness: -

(a) Diagnosed within thirty (30) days of your Effective Date of Coverage into the CreditShield Premier Insurance, with the exception of the following, which shall be subject to awaiting period of sixty (60) days:-


4/5

4

(i) Cancer(ii) Heart Attack(iii) Other Serious Coronary Artery Disease(iv) Coronary Artery By-Pass Surgery.

(b) Disease(s) resulting from Acquired Immuno Deficiency Syndrome (AIDS), AIDS-relatedcomplex or infection by Human Immuno Deficiency Virus (HIV) unless the condition ordisease or infection arose as a result of blood transfusion or occupationally acquired in

accordance with Critical Illness definitions of the Policy.

(c) Pre-existing Illness which existed within twelve (12) months before the Effective Date ofCoverage or Date of Reinstatement, where Pre-existing Illness shall mean disabilitiesthat you have reasonable knowledge of. You may be considered to have reasonableknowledge of a pre-existing condition where the condition is one for which:

You had received or is receiving treatment; Medical advice, diagnosis, care or treatment has been recommended; Clear and distinct symptoms are or were evident; Its existence would have been apparent to a reasonable person in the circumstances.

within the period of twelve (12) months before the Effective Date of Coverage or Date

of Reinstatement.

(d) Any self-inflicted injuries while sane or insane, whether or not Critical Illness was causeddirectly or indirectly as a result of the said injury.

7. Can I cancel my policy?

Yes, you may cancel your policy by giving a written notice to Us. Your policy shall be terminatedon the date of receipt by Us of a written request for cancellation of the insurance by you.

8. What do I need to do if there are changes to my contact details?

It is important that you inform Us of any change in your personal details such as your change of

address so that we can keep you informed of important information.

9. Where can I get further information?

Should you require additional information about medical and health insurance, please refer to theinsuranceinfo booklet on Medical & Health Insurance, available at all Our Service Centres. Youmay also visit the insurance info website www.insuranceinfo.com.my or Our website

AIA.COM.MY.For further information on claims procedures, please refer to Our website.

If you have any enquiries,please contact us at:

AIA Bhd. (790895-D)Menara AIA99 Jalan Ampang50450 Kuala LumpurP.O.Box 1084650927 Kuala LumpurCare Line: 1800 38 3464T: 03 - 2056 1111F: 032056 3891

AIA Bhd. is licensed under the Financial Services Act 2013 and regulated by Bank NegaraMalaysia

10. Other types of Medical and Health Insurance cover available

Please ask Us for other similar types of plans offered by AIA Bhd.

IMPORTANT NOTE:YOU SHOULD SATISFY YOURSELF THAT THIS POLICY WILL BEST SERVE YOUR NEEDS.YOU SHOULD READ AND UNDERSTAND THE CERTIFICATE OF INSURANCE AND DISCUSS
http://www.insuranceinfo.com.my/http://www.insuranceinfo.com.my/http://www.ing.com.my/http://www.ing.com.my/http://www.ing.com.my/http://www.insuranceinfo.com.my/


5/5

5

WITH THE BANK OFFICER OR CONTACT THE INSURANCE COMPANY DIRECTLY FOR MOREINFORMATION.

The information provided in this Product Disclosure Sheet is printed on December2013.

pds - credit shield premier upgrade(eng) - tm

Documents