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Personal Credit Cards
Bankomatiko Contactless Smart card
The last thing you want your family to inherit are your debts!
Windward Islands Bank protects you with its Credit Card Balance Protection to help you address one of these concerns.
Who is covered?
Upon having registered for the Balance Protection Program, the principal card holder is covered. Additional card holders on the same account are not covered.
If, while you are covered, you pass away before your 72nd birthday, we will pay the Death Benefit, subject to our receiving satisfactory evidence of your death.
If, while you are covered, you pass away on or after your 72nd birthday as a result of an injury within 365 days of the date of the Accident which caused the injury, we will pay the Death Benefit, subject to our receiving satisfactory evidence that you passed away as result of such injury.
How much am I covered for?
Credit Card Balance Protection will pay your Windward Islands Bank credit card balance as of the date of death, plus accrued interest up to a limit of USD 10,000.- or ANG 18,000.-
How much does credit card Balance Protection cost?
Only 0.5% of your ending balance at the end of each statement cycle.
If I pay my statement in full each month, will I ever get charged a premium?
Yes, because you are insured from the moment you make your purchase. If you are using your credit card you always have an insured balance.
Why do I need this coverage?
Because, for very little cost, you can eliminate one financial obligation that would otherwise be a burden for your heirs. One less worry for them.
In consideration of the payment of the premium when due, and subject to the terms, conditions, limitations, exclusions and other provisions detailed in this Certificate. Windward Islands Bank thereinafter called “We; “Us” or “Our” agree with you to pay the Death Benefit should you pass away while you are covered.
Eligibility for coverage
To be eligible for coverage, your Account is a personal (non corporate) Account in Good Standing, and subject to the terms and conditions of a Cardholder Agreement. Eligibility for coverage is limited to the principal cardholder.
Effective date of coverage
Your coverage will become effective on the first statement after your monthly Insurance Premium is paid. All periods of coverage shall begin and end at 12:01 a.m. at your address.
The current premium rate is 0.5% of outstanding balance. We have the right to change the premium rate from time to time.
The premium charged to your Account each month will be the premium rate in effect on the date of your statement multiplied by the sum of the beginning balance of your statement and the debits and credits posted during that statement cycle.
Payment of premium
Premium for your coverage will be billed to your Account. Premiums (including any applicable taxes) will be charged to your Account in each month when your Account’s ending balance in that month is greater than zero and a Statement is issued. The Initial premium will be charged to your Account on your next Statement following your Effective Date of Coverage. Thereafter, any premium due will be charged to your Account on each Statement date.
Limitation of death benefits
Payment of any Death Benefits is subject to the following limitations. Our maximum liability for all payments made as a result of your death shall not exceed the lesser of USD 10,000.- or NAf. 18,000.- or the outstanding balance incurred on your Account. No payment will be made for purchases or charges made after you pass away.
No Death Benefit will be payable if your death resulted directly or indirectly from: A disease or medical condition which was diagnosed or treated by a doctor or for which medication was prescribed by a doctor in the six month period prior to the Effective Date of Coverage if you passed away during the six month period immediately following your Effective Date of Coverage and the disease or medical condition caused or contributed to your death; suicide or attempt of, whether sane or insane, within the one year period immediately following your Effective Date of Coverage: participation in the military or other armed service, and/or war, or any act of war whether declared or undeclared: the commission or attempted commission by you of any criminal act: or any cause other than Accidental Death when the cardholder is 72 years old or older.
Termination of coverage
Automatic Termination: your coverage will automatically terminate without any further action by us as soon as any one of the following occurs: the date of your death; or attainment of age 72 years for other than Accidental Death coverage; or the date a Cardholder becomes delinquent; or the date your Account is cancelled or on the date stated in any written notice of termination of your coverage sent by regular mail by us to you at your address as it appears on our records, provided that such date may not be less than thirty-one (31) days from the date such written notice was mailed.
Termination by you
You may terminate coverage by: Calling our Contact Center department at (1-721) 546 2942 and requesting cancellation or sending written notice of termination by regular mail to our BankCard Services Department or by e-mail to [email protected] by personally requesting termination. Premium Position upon Termination: If premium has not been paid for any period up to the date of termination, you shall continue to be liable to us following termination of your coverage for the payment of such premium which We may at our option charge to your Account.
Yes, if you are the principal cardholder of a personal VISA, MasterCard, American Express or Kompa Leon account.
Cardholders other than the principal cardholder are not eligible for this Balance Protection.
Up to the lesser of the outstanding credit card balance at the date of death, and the maximum of USD 10,000.- or ANG 18,000.-.
Yes you have to enroll when you apply for one of our credit cards or, if you already have a credit card, via our contact center which you can reach at (1-721) 546 2942.
Only 0.5% of the outstanding balance.
Because for a very reasonable premium, you can relieve one financial obligation that you will leave behind for your loved ones to deal with.