Archive for the ‘Credit card’ Category

Should insurance through a credit card?

You certainly never experienced anything like the above sentence fragment, a phone that aims to bring you into insurance customers through credit cards. Such insurance is life insurance sum assured is equal to the amount of credit card limit, but there are times when insurance is in the form of health insurance that would provide some insurance money if the card holder inpatient hospital experience.

Should insurance through a credit card?

insurance through a credit card

So how should you behave?, Whether the engagement “yes”all offerings that? Well, to answer our wise readers who want to just share the story of our client families. Let’s look at look at the fact that ever happened to our clients who have died or dies, here are the facts:

1. Credit card bills keep coming
Although it has been reported to the documents considered incomplete by the customer or the customer service that the cardholder has died and the deceased has paid premiums to protect from any outstanding bills to keep coming but the fact still be charged even more than 3 months;

2. Debt collectors continue to disrupt
Associated with the card holder who has died, the logic of unpaid bills and life insurance should serve to pay the remaining outstanding debt, but in fact the debt collector continues to call even went to the heirs and asked to immediately pay off the debts of the deceased (who had been in the insurance protectionism) ;

Based on searches performed by the heirs of the family were:

  1. Almost all credit card issuing bank has a separate card center billing department or the collection department, so that the entire report from the family of the deceased is not accepted or (ignored?) By the billing, collection department, ironically again there is a completely separate alias out sourcing, so even though they know the status of the monitor screen has died and the card holder is protected by insurance, but they continue to charge, they even send a card holder status to black list. This can be seen in reports on Bank Indonesia or BI known as the check list, hmm ..
  2. The publisher policy in this case the insurance company has yet to process the cash coverage completely because of the transfer of corporate partnerships with the credit card issuer.
  3. Although there is no transfer of a partnership with credit card issuers, but the fact that there are still families of the deceased should be reported and asked for the claim that has been reported to the card center, the family of the deceased still have to visit the insurance company. So the relationship between publishers and insurance companies in terms of the claims process is very inefficient, it is different at the time agreed.

Readers, apparently to claim insurance on the facility is not as easy as opening a credit card, at the time of opening or approve enough over the phone, but when a claim can take up to 3 (three) months or more, visit  credit card and insurance had to be done, debt collector must also be addressed.

Our data there are only two companies that process credit card issuer with a professional and relatively fast which is a foreign bank that readers never knew a credit card customers as well die in the Bank is a bank with 3-letter initials of the first owned by a conglomerate of Indonesia but is now owned by foreigners, the rest (local and foreign private banks) based on the experiences of our clients all the standards process is still very very slow and unprofessional.

But there is one thing that should be appreciated is the officer of the bank despite the government process is still not as good as above but two bank officers acted very cooperative and polite, a bank may wish the government could be better.

Based on the exposure of the above then we suggest that life insurance should be purchased separately, count all the credit limit you have on your credit card, you add the sum to the total credit limit and buy traditional insurance because this type of insurance has cheaper premiums and high sum assured and of course his claims process easier and faster because it does not directly through the credit card issuer. So hopefully useful.