PaymentProtect

PaymentProtect protects you, as a principal holder of a credit card issued by Cembra, against the risk of outstanding credit card obligations, in cases such as involuntary loss of employment, illness or accident. In such cases, the insurance will pay the remaining outstanding balance under the defined conditions.

That would be AXA Versicherungen AG.

• The insurance enables you to maintain your financial solvency and protect your savings

• No minimum premium, i.e. premiums are only due when card transactions have been made

• The insurance is optional, i.e. it can be taken out voluntarily

• Single premium rate regardless of sex, age or occupation

• Uncomplicated and easy application process.

The primary cardholder of a credit card issued by Cembra.

The insurance covers the outstanding balance of your monthly credit card statement issued before the insured incident up to a maximum of 15,000 Swiss francs. In the event of a claim, the covered amount is credited to the account of the primary cardholder at Cembra.

The premium rate is 0.65% of the monthly card statement balance.

Example:
Outstanding balance of monthly statement: CHF 1,000.00
Premium rate: % 0.65
Monthly insurance premium: CHF 6.50
Outstanding balance including premium: CHF 1,006.50

Yes.

It is best to take out the insurance together with your credit card agreement. You can also activate the insurance at a later date in eService; call us or directly visit one of our branches for a non-binding consultation.

The insurance cover begins for all insured risks 60 days after the date specified on the insurance confirmation ("grace period").

To assert insurance claims, the insured person must use the specific claim forms, which they can download from our website. The completed form must then be sent to the insurer.
The insurer can demand all evidence that it deems necessary for the respective claim review.
In the event of a claim, all the above-mentioned documents or additional documents requested by the insurer must be sent to the insurer at the following address:

AXA, Zweigniederlassung Zürich
Badenerstrasse 549
8048 Zurich

In the case of involuntary unemployment as an employed person:
Coverage of the card balance specified on the monthly statement issued immediately before the insured incident, up to maximum of 15,000 Swiss francs and a maximum of three claims. In the event of a claim, the covered amount is paid out in three steps (each step precludes the persistence of unemployment during the period):

- after the first 30 days (waiting period): 5% of the insured card balance
- after a further 30 days: 5% of the insured card balance
- after a further 30 days: 90% of the insured card balance

Please note the grounds for exclusion laid down in section VII of the General Conditions of Insurance.

In the case of serious illness as a self-employed person:
Coverage of the card balance specified on the monthly statement issued immediately before the insured incident, up to a maximum of 15,000 Swiss francs and a maximum of one claim. In the event of a claim, crediting of the covered amount occurs in one step after a waiting period of 30 days. Please note the grounds for exclusion laid down in section IX of the General Conditions of Insurance.

In the case of full incapacity to work or hospitalisation as an employee or self-employed person:
Coverage of the card balance specified on the monthly statement issued immediately before the insured incident, up to a maximum of 15,000 Swiss francs and a maximum of three claims. In the event of a claim, the covered amount is paid out in three steps (each step precludes the persistence of incapacity to work during the period):

- after the first 30 days (waiting period): 5% of the insured card balance
- after a further 30 days: 5% of the insured card balance
- after a further 30 days: 90% of the insured card balance

Please note the grounds for exclusion laid down in section V of the General Conditions of Insurance.

Yes.

You can cancel the insurance policy free of charge in writing and by post within 30 days from the start of the insurance. Please send notice of cancellation to Cembra Money Bank AG, Bändliweg 20, 8048 Zurich. After these 30 days have elapsed, the insurance can be cancelled subject to a notice period of 30 days from the end of a month. This should also be done in writing and by post to the above address.

In the case of early retirement: Yes. The insurance usually ends automatically on your 65th birthday.