- By Aditya Pratap Singh
- Tue, 28 Nov 2023 05:03 PM (IST)
- Source:JND
As the name suggests, credit card insurance is a type of financial protection provided to cardholders to protect them against unexpected events like theft, physical damage, and some financial assistance in emergencies. Credit card companies offer these services to help customers in times of crisis such as loss of credit cards, unexpected accidents, theft while traveling, and medical emergencies.
One of the best features offered by insurance credit cards is that instead of applying for multiple insurance policies like medical, travel, and theft, you can apply for a credit card and get a bigger chunk of your total income every year with multiple premiums. Insurance that covers almost all important contingencies. Here are some types of credit card insurance that customers can apply for:
Health insurance credit cards
These types of cards offer benefits such as annual health check-ups, specialty consultations, and medical tests with a list of hospitals and laboratories with which the credit card company has professional affiliations. Some credit card companies also offer overseas emergency medical assistance as per the terms specified while applying for a credit card.
Travel insurance credit cards
Travel insurance credit cards are essential for people who travel frequently for their professional needs. Credit card companies offer insurance protection against travel uncertainties such as delayed flights or canceled flights for many unplanned reasons. If the card has coverage, cardholders can be reimbursed for flight reservations, hotel reservations, and internal transportation expenses.
Accident insurance credit cards
Accident insurance is a type of life insurance benefit because when the credit cardholder faces an unfortunate accident, the cardholder can claim coverage for medical expenses incurred due to the unfortunate event. Also, in case of the death of the cardholder, the spouse or nominee associated with the card can claim some amount as per the terms and conditions of the credit card company.