The National Bank of Abu Dhabi (NBAD) has launched its new initiative called Credit Shield - a comprehensive insurance coverage that offers protection benefits. The new insurance cover offers a range of insurance protection benefits, ranging from life cover to critical illness and disability.
Under the scheme, up to 50,000 Emirati dirhams ($13,612) of the card's outstanding balance will be waived in the unfortunate event of certain adverse and unforeseen circumstances. In the case of permanent disability or death due to an accident, an additional lump sum payment of Dh 50,000 will be made to the cardholder's family.
As one of the first banks in the region to provide critical illness cover, the scheme also covers a range of medical ailments such as stroke, cancer and heart attack. The cost for this service, which is based on the monthly outstanding balance of the card, is amongst the most competitive in the UAE.
Credit Shield Protection is offered in alliance with Arab Orient Insurance Company, part of the Al-Futtaim Group and one of the leaders in the UAE insurance industry. — (menareport.com)
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