PRUCredit Shield Elite

  • creditshieldcreditshield

    PRUCredit Shield Elite  (This is an insurance product)

    With PRUCredit Shield Elite, pay for the things you love with UOB credit card and have the peace of mind that you will enjoy protection of up to 300% of the Outstanding Balance in the event of death, Total and Permanent Disability (TPD) or diagnosis of one of the covered 43 critical illnesses. This plan also helps to settle Outstanding Balance of your credit card in the event of hospitalisation, Temporary Total Disability (TTD) as well as Compassionate Benefit. Terms and conditions apply.

Overview

PRUCredit Shield Elite is a yearly renewable non-participating group insurance plan that offers insurance protection by settling your principal and supplementary credit card Outstanding Balance in the event of death, TPD, TTD, hospitalisation, or diagnosis of one of the covered 43 critical illnesses. This plan also pays a Compassionate Benefit in the event of death. At the end of every certificate year, this plan will pay a No Claim Bonus if there is no claim incurred during the particular certificate year.

Monthly premium is at only RM0.66 per month for every RM100.00 Outstanding Balance. It comes with complimentary coverage from the date of commencement of coverage until the day before the billing date of the second monthly bill of your credit card issued.

The Outstanding Balance means the sum outstanding from your principal and supplementary credit card (if any) including any finance, late payment charges, outstanding credit card balance and term loan instalment amount arising from the conversion of credit card balance to a term loan being charged to the credit card, prior to the occurrence of your death, TPD, TTD, diagnosis of one of the covered 43 critical illnesses, or the first day of hospitalisation in accordance with the provisions under the insurance certificate. For clarity, if any of these new credit card outstanding balance related charges as mentioned here are incurred after the occurrence of death, TPD, TTD, diagnosis of one of the covered 43 critical illnesses, or on or after the first day of hospitalisation, it shall not form any part of the Outstanding Balance.

Exclusively available for UOB Credit Cardmembers, selling via telemarketing channel, renewable up to age next birthday (ANB) 66.

Benefits

Death Benefit  
Total and Permanent Disability (TPD) Benefit In the event of death/TPD/diagnosis of one of the covered 43 critical illnesses, 300% of the Outstanding Balance* shall be payable. 

However, for Angioplasty And Other Invasive Treatments For Coronary Artery Disease, only 10% of the Critical Illness Benefit shall be payable, subject to maximum RM25,000.
Critical Illness Benefit
Temporary Total Disability (TTD) Benefit In the event of Insured Cardmember becoming totally and temporarily disabled continuously for at least 15 days, TTD benefit equivalent to 10% of the Outstanding Balance* shall be payable, up to 12 monthly payments per lifetime and premium, as and when due, will be waived.
Compassionate Benefit In the event of death, 20% of the Outstanding Balance shall be payable on top of the Death Benefit described above, up to the maximum limit of RM3,000 per life. Compassionate Benefit will be payable directly to the claimant nominated by the Insured Cardmember. However, we are not liable to pay any Compassionate Benefit that is below RM20 for each Insured Cardmember.
Hospitalisation Benefit In the event of hospitalisation which is medically necessary for more than 6 days continuously due to sickness, disease, illness or injury, 100% of the Outstanding Balance shall be payable.

In each certificate year, there shall only be 1 claim on Hospitalisation Benefit per plan subject to a maximum of RM 30,000 per Insured Cardmember.
No Claim Bonus (NCB) At the end of every certificate year, 10% of total premiums paid in a particular certificate year shall be payable, provided the insurance certificate remains in force and if there is no claim incurred during the particular certificate year.
Underwriting Simplified underwriting with 2 simple health questions.

*Sum Insured is the Insured Cardmember’s Outstanding Balance, subject to the maximum claim amount of RM100,000 for a Principal Classic or Gold Card Member or RM300,000 for a Principal Platinum Card Member per product per life, irrespective of the number of card enrolments of such Principal Card Member under the PRUCredit Shield Elite group insurance plan. In the event where an Insured Cardmember holds both Principal Classic or Gold Card(s) and Principal Platinum Card(s), the Sum Insured shall be the Insured Cardmember’s combined Outstanding Balance for his/her Principal Classic or Gold Card(s) and Principal Platinum Card(s) and shall not exceed the maximum claim amount of RM300,000 for a Principal Platinum Card. The Master Policyholder will have the sole and absolute discretion to categorise any of its credit cards into 'Classic', 'Gold' or 'Platinum'.

Notes: 

  1. Outstanding premium shall be deducted from the claim (except No Claim Bonus and Compassionate Benefit) paid by us. Outstanding premium is the difference between the revised premium (calculated based on the increased Outstanding Balance, if the Outstanding Balance that is payable is more than the Outstanding Balance at the previous monthly billing date that premium was received) and the premium received at the previous monthly billing date.
  2. For the full list of covered 43 Critical Illness, waiting periods, exclusions and other terms and conditions, please refer to Product Disclosure Sheet and insurance certificate

Eligibility

  Principal Credit Card Member
Age of Entry 18 - 65

Enrolment

Call our 24-hour UOB Contact Centre to apply!

Disclaimer

Underwritten by:

Prudential

The above plans are underwritten by Prudential Assurance Malaysia Berhad 198301012262(107655-U). All claims and liabilities arising from the policies should be made with the company.

Prudential Assurance Malaysia Berhad is a licensed insurance company and is regulated by Bank Negara Malaysia. Prudential Assurance Malaysia Berhad is responsible for the products and benefits offered by them, as well as any representation made in any of their marketing materials including United Overseas Bank (Malaysia) Bhd’s marketing material for the products offered by Prudential Assurance Malaysia Berhad.

This content contains only a brief description of the product and is not exhaustive.

The benefit(s) payable under eligible certificate/policy is(are) protected by Perbadanan Insurans Deposit Malaysia (“PIDM”) up to limits. Please refer to PIDM’s Takaful and Insurance Benefits Protection System (“TIPS”) Brochure or contact Prudential Assurance Malaysia Berhad or PIDM (visit www.pidm.gov.my).