Credit Shield

Important updates on your coverage benefits

As part of our ongoing commitment to improving your banking experience, we are notifying you of upcoming enhancements to the Credit Shield coverage benefits associated with your CBD Credit Card.

These improvements will be effective from 1 January 2025.

Here are the key highlights of the updated Credit Shield coverage:


 

In case ofHow Credit Shield Insurance plan can help with your credit card obligations?
Death due to any cause
  • In case of death due to any cause to the primary Credit Cardholder, the Policyholder will be relieved of 100% of the credit card account outstanding balance up to a maximum sum insured of up to AED 150,000/-.

Permanent total disability due to accident or illness

  • In case of permanent total disablement of a primary credit cardholder due to accident or sickness, the Policyholder will be relieved of credit card account outstanding balance up to a maximum sum Insured of up to AED 150,000/- 

Critical Illness

  • In the event of a card member being diagnosed with critical illnesses, after the commencement date and during the cover period, the company shall indemnify the Insured the actual outstanding balance subject to an overall cap of AED 100,000/-.

Involuntary Loss of Employment

  • In respect of Involuntary Loss of Employment for the Primary Cardholder, the company would pay 10% of outstanding amount subject to a maximum of AED 4,000/- per month with a maximum indemnity period of 6 months.

 

These benefit updates will occur automatically starting January 1, 2025 with no disruption to your credit card usage.

For any questions or clarifications, please contact our customer support team at [email protected].

We believe that these enhanced Credit Shield coverage benefits will provide you with greater peace of mind. Thank you for choosing CBD for your banking needs.

 

Regards,
Commercial Bank of Dubai

 

Key Facts Statement

We kindly request you to carefully read and understand this document if you are applying for a Credit Card (CARD) with Commercial Bank of Dubai.

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Affordable Banking Tips

Our goal at CBD is to ensure that everyone has access to affordable banking solutions to help improve financial capability, promote savings, and build assets and wealth in the months and years to come. This section provides you with tips for your lowest cost and more affordable banking solutions at CBD. To ensure you are not charged interest on your Credit Card, please ensure you pay the total outstanding amount (as per your statement) on or before the payment due date.

Disclaimer

Credit Shield insurance plan is offered by Orient Insurance. Commercial Bank of Dubai is acting as a distributor for Credit Shield and shall not be responsible for the insurance company's actions or decisions nor shall Commercial Bank of Dubai be liable regarding payment of claims under the policy/Insurance contract issued by Orient Insurance. This is just a summary of the features, benefits, exclusions, Terms & Conditions, which are in effect for Credit Shield Policy. The information provided herein is for guidance purpose only and does not override the definitive policy issued. For full policy Terms & Conditions please refer the policy wordings, Terms & Conditions and exclusions. Applicable to all customers under the group cover irrespective of the date of enrolment.

Warning

If you do not meet the repayments/payments on your credit card/loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future. For complete product details and warnings, please refer to the Key Facts Statement.

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