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Credit Card Protection Insurance (CCPI)
Products and Services
CCPI is to offset the insured’s payable amount of credit card in the event that the insured cannot make their payment because of sickness or accident. The claim amount is paid to HSBC as the first beneficiary at first, and then the surplus amount is paid to the insured’s inheritors.
The features are as followed:
Protection scope:
- Sickness dead/total dismemberment
The claim amount is the insured’s total payable expense which will be included into latest-date credit card bill before the date of dead or total dismemberment. - Accident dead/total dismemberment
The claim amount is “double” the insured’s total payable expense, which will be included into latest-date credit card bill before the insured accident happens. - Accident 2~6 degree dismemberment
The claim amount is 5%~75% of the insured’s total payable expense which will be included into latest credit card bill before the insured accident happens.
Premium
Monthly outstanding balance * 0.425%
Payment mode
Monthly pay by credit card
* No health declaration and medical check required.
Products declaration
- HSBC cooperate with HIBT to provide regulator authorized insurance products. Insurance products are not saving products. It was protected by Insurance Stabilization Funds, not by Central Deposit Insurance.
- The related liability of insurance products was fully taken by insurance company, not by HSBC or HIBT.
