Personal Credit Cards

Transcription

1 Client Notice Personal Credit Cards Changes to the insurance included with your credit card Effective September 1, 2017

2 In an effort to offer you the most advantageous coverage possible, we hereby advise you that National Bank Life Insurance Company will become the insurer for all insurance coverage included with your card 1, effective September 1, For residents of Alberta, Canassurance will be the insurer as of that date. CanAssistance, which is currently the company in charge of providing the services included with your card, will remain the provider of these services. We would like to take this opportunity to advise you of some changes made to the insurance coverage offered with your card. These changes are set out in the present rider. The following changes affect the OVATION Gold 2 credit card, including cards associated with a financial package or partner. At the same time, you may also consult the new Distribution Guide and insurance certificate that contains the changes outlined in this rider at nbc.ca/changes as of August 1, We encourage you to communicate this information to your credit card s authorized users.

3 Insurance Coverage Amendments Effective September 1, 2017 Purchase and extended warranty insurance > The following items were added to the list of items excluded from purchase insurance and are therefore no longer covered: Perishable products or food Drones and any other remote-controlled flying devices Heat pumps and any other heating or air conditioning devices > The following situations were added to the list of purchase insurance exclusions and no claim will be payable when the loss is caused by one of the following: Professional use of an item destined for personal use Item purchased for a business or a commercial purpose Damage caused by insects or animals > Heat pumps and other heating or air conditioning devices were added to the list of items excluded from extended warranty insurance and are therefore no longer covered. > Items purchased for a business or commercial purpose were added to the list of extended warranty insurance exclusions and no claim will be payable in this situation.

4 Vehicle rental insurance > Usual and reasonable towing charges and charges by a rental company for loss-of-use of a vehicle are now covered. The insurance will therefore refund you for these charges subject to the maximum amounts indicated in the guide and certificate. > The exclusion of luxury vehicles was previously defined according to a list of excluded vehicle brands. This list was withdrawn and the exclusion now applies to vehicles with a manufacturer suggested retail price (MSRP) of more than $65,000. All vehicle brands are now covered (subject to eligibility criteria) as long as the MSRP is equal to or below $65,000. > The following items were added to the list of items excluded from personal belongings coverage and are therefore no longer covered: Perishable products or food Tablets (such as ipads), cell phones, laptop computers and software Photography equipment: photo, video or audio devices or accessories

5 Clauses that apply to more than one coverage Definitions > The definition of dependent child now excludes a child that is adopted during a trip. General clauses > Insurance coverage will now cease when the account is no longer in good standing. Previously, coverage ceased on the billing date following the date when the account was no longer in good standing.

6 l For more information Consult the current certificate nbc.ca/changes Take advantage of our expertise Set up a meeting at a branch nbc.ca/find-us 1 Subject to approval by certain regulatory authorities. 2 This product is available to current cardholders only. It is no longer offered to new clients. OVATION is a registered trademark of National Bank National Bank of Canada. All rights reserved. Any reproduction, in whole or in part, is strictly prohibited without the prior written consent of National Bank of Canada (2017/04)