Debt protected
In the event of the cardholder's death, BMI pays the institution the outstanding credit card balance, up to the sum insured.
Card Protection
Card protection insurance
Group insurance for financial institutions, cooperatives, associations and schools: backs credit card debt in the event of the cardholder's death and protects debit cardholders in the event of an accident.
10 cardholders
Why choose Card Protection?
Group insurance so your financial institution can back its customers' credit and debit cards.
Accident protection
For debit cards, it covers accidental death or dismemberment, with payment to the beneficiaries designated by the insured.
No waiting period or deductible
The basic coverage has no waiting periods or deductible for the insureds included in the policy.
Worldwide coverage
For loans, it covers death from any cause anywhere in the world, 24 hours a day, 365 days a year.
Optional coverage
Theft and fraud, assistance and funeral services, and for credit cards also unemployment and total and permanent disability.
The entity takes out the policy
The financial institution is the policyholder and chooses a credit or debit policy, and the group must include at least ten cardholders.
Cardholders are included
Covers cardholders age 18 or older with active cards issued by the institution in Costa Rica.
BMI is notified of the claim
The entity or the insured notifies BMI of the claim in writing.
BMI reviews and pays
The claim documentation is submitted and BMI pays once all documents have been received.
Document Downloads
Card Protection coverage
Credit card
Death from any cause: BMI pays the outstanding balance to the institution, without default interest, fees or other pending charges.
Debit card
Accidental death and/or dismemberment: the amount depends on the card type and plan, and is paid to the beneficiaries.
Optional riders
For an additional premium: theft and fraud, and for credit also unemployment and total and permanent disability.
Assistance services
Roadside, legal, health and nutritional assistance, among others, depending on the plan purchased.
Frequently asked questions
We answer the most common questions about our group credit and debit protection policies.
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It is a group solution aimed mainly at financial institutions and other organizations that wish to offer protection associated with credit or debit cards. The applicable coverages depend on the type of card, the product defined by the institution and the contracted conditions.
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Depending on the contracted option, it may include coverages or services related to death, theft and fraud, total and permanent disability, unemployment, funeral services or assistance. Not all coverages apply to all plans, so the individual certificate and the policy conditions should be consulted.
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The group policy is taken out by an entity, such as a bank, cooperative, association, solidarity association or professional association. The enrollment method, requirements, cost and available coverages are defined by the contracting entity and BMI, in accordance with the insurance conditions.
