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Account Protector (Cap) helps protect your credit
rating and your family by making your minimum monthly
payments up to $500 if you become involuntarily unemployed,
totally disabled, or take an unpaid leave of absence
for 30 days or more. It will pay your balance in full,
up to $10,000 if you or your spouse die or suffer
dismemberment.
Total
benefits are limited to the lesser of your outstanding
balance as of the date of loss or $10,000. CAP costs
no more than $.81 per $100 of your balance each
month and there's no charge when there's no balance
on your account. Interest (except for CA life and
disability benefits), premium accrued and charges
made after the date of loss are not covered. This
insurance is optional and you may cancel at any
time. The effective date of coverage is the next
statement billing date after receipt and acceptance
of your enrollment. If you enroll, carefully read
the certificates which we send you. Enroll now by
signing and returning the bottom of your application.
Eligibility:
You are eligible for CAP if you are a cardholder,
under the age of 71(age 65 in CA; 66 in DE) and
your account is in good standing. The person whose
signature appears on the enrollment form is designated
as the primary cardholder; only one primary cardholder
per account. CAP covers only the primary cardholder
for disability, unemployment and family leave. You
must be insured at date of loss to qualify for benefits.
Benefits are determined as of the date of loss.
Coverage stops when you reach age 71 (age 65 in
CA; 66 in DE; 72 in NM), or when your account becomes
90 days past due. Spousal benefits are not available
in NJ, NY, NC, PA &TX. CAP is not available
in VA. CO residents must be currently employed to
enroll.
Unemployment
Benefit: Unemployment must be involuntary and does
not cover retirement, resignation, incarceration,
periods in which you are paid for work previously
done, or self-employed people unless the business
is closed for financial reasons. You must be gainfully
employed at least 30 hours per week at the time
of loss, and you must register at your local unemployment
office. Benefits are not available in HI, ME, MA,
MN, NY, PA &VT. Strike is not covered in IL.
In AZ there is no maximum age limitation for involuntary
unemployment insurance.
Family
Leave Benefit: The unpaid leave of absence must
be due to special circumstance (i.e. birth or adoption
of a child, accident or illness affecting an immediate
family member, a call to active military duty or
residence in a federally declared disaster area).
You must be employed a minimum of 30 hours per week.
Family leave resulting from a preexisting illness
of an immediate family member will not be covered
in the first six months. Your coverage must be in
force for 90 days before any claims are covered,
and each covered claim is limited to six months
of benefits. In CA, insurance premiums are reimbursed
during family leave claims. Family leave benefits
are not available in CT, HI, KS, MA, MD, ME, MN,
NH, NM, NY, OR, PA, TX &VT.
Life,
Dismemberment and Disability Benefits: For CA and
TN, CAP pays the balance on the account as of date
of death of the primary account holder or the joint
account holder up to $10,000. AL suicide excluded
first year. A dismemberment is defined as loss of
sight in both eyes or hand or a foot. Dismemberment
is not covered in CA, KS, MN, NJ, PA, RI, &
WA. Total disability means that due to accidental
injury or sickness you are unable to perform the
duties of your occupation and you must be attended
by a licensed physician other than yourself. Disability
benefits for ME & MA residents commence on the
31st day of disability. To be eligible for disability
coverage, you must be gainfully employed 30 hours
per week at the time your claim begins except in
CA, GA, ID, IN, ME, MD, MI, MO, NM, OK, TN, TX &
WA. Disability benefits are not available in NY
& PA. CA residents are not covered for disabilities
resulting from normal pregnancy or intentionally
self-inflicted injuries and may receive only limited
benefits for other disabilities or suicide.
Monthly
Program Costs Per $100 Balance: $.81 in AR, DE,
DC, FL, IL, IN, KY, LA, MS, OH, OK, TN, WV;$.80
in MT, RI; $.79 in SD; $.76 in AL, AZ, CA, ID, IA,
MI, NV, NC, ND, SC, UT, WY; $.72 in WI; $.71 IN
AK, GA, NJ; $.68 in NE; $.66 in MO; $.65 in KS,
WA; $.60 in MD; $.59 in NM; $.58 in OR; $.56 in
NH; $.55 in CT; $.50 in CO; $.30 in MN; $.253 in
TX; $.22 in MA; $.19 in ME, HI, VT; $.1088 in NY;
$.07 in PA. The cost will be charged to your account
each month. Premium rates can be increased upon
written notice. If you cancel coverage within 30
days after receipt of your certificate, all premiums
will be refunded.
Insurance
Providers: Life, Dismemberment and Disability insurance
underwritten by: The United States Life Ins. Co.,
New York, NY (forms G-19101/19081) in NY; All American
Life Ins. Co., Springfield, IL (form GCL275 Series)
in NH; American General Assurance Co./USLIFE Credit
Life Ins. Co., Schaumburg, IL (form 280 in ME, form
275 in all other states). Involuntary Unemployment
and Family Leave insurance underwritten by: American
General Indemnity Co. Omaha, NE (form USI &
UIC Series); Montgomery Ward Ins. Co., Schaumburg,
IL (form 260 & 264 Series); and Colonial Penn
Franklin Ins. Co., Valley Forge, PA (form 360 &
364 Series).
If
you live in NJ, PA or TX, please read the following:
NJ residents may choose life and disability insurance
coverage only ($.20 per $100 balance), and TX residents
may choose life & disability insurance coverage
only ($.196 per $100 balance). Please write to American
General Bancassurance Services Inc., CAP Services,
1000 E. Woodfield Road, Suite 300, Schaumburg, IL
60173 and request a special CAP enrollment form
for Equifax Card Services. PA residents: your signature
on the enrollment form indicates your request for
a special CAP application form as you may not enroll
through this offer.
This
disclosure is accurate as of January 1, 2004 and
may be subject to change.
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