Credit card repayments cover

What does Credit Card Repayments Cover (CCRC) offer you?

It's reassuring to know that your financial commitments could be protected should the unexpected happen. Our optional Credit Card Repayments Cover offers you great value and peace of mind knowing that your monthly repayments could be covered.

In the event of a valid claim, we can cover your repayments^†:

• If you are in work and you become disabled after the start date and before the end date for 15 days in a row we will pay you daily benefit for each consecutive day of your disability from the first day.
• if you become unemployed (through no fault of your own) for thirty consecutive days or more, daily benefit is payable from the first day you become unemployed
• If you are confined to hospital after the start date and before the end date for at least seven days in a row whilst you are 65 or over we will pay your daily benefit for each consecutive day you are hospitalised from the first day.

In the event of a valid claim, Credit Card Repayments Cover will pay 10% of either the outstanding balance or highest balance (in the preceding statement month) whichever is the greater but no less than £10 to a maximum of £2,500 a month.

In the event of a valid claim, we can pay off your outstanding balance up to a maximum of £25,000^†:

• if you leave work to become a full-time carer for a relative
• if you're diagnosed with a specified critical illness
• if you die

Am I eligible for CCRC ?

To be eligible for Credit Card Repayments Cover, you must be

• The principal cardholder
• Over 18 but under 65
• Living in the UK
• In paid work under a contract of employment and paying class1 National Insurance contributions or self-employed and registered for class2 National Insurance contributions

How much does CCRC cost ?

Credit Card Repayments Cover costs 78p (including IPT* at 5%) per £100 of your highest balance**. The minimum premium payable is 78p but no premium is due if your outstanding balance is nil regardless of the highest balance in that month.

*IPT is Insurance Premium Tax which is chargeable on the non-life elements of your premium.
**your highest balance means the highest of indebtedness to your lender under the agreement in each statement month.

^† As with all insurance policies some exclusions apply.

We recommend that you read the following documentation for more details:

• Our Terms and Conditions
• The Initial Disclosure Document
• The Policy Summary
• The statement of Demands and Needs 

You may also refer to the Association of British Insurers independent consumer guide to payment protection