Allianz Life Insurance Protection

For Nations Trust Bank American Express Cardmembers

Allianz Life Insurance Protection

Frequently Asked Questions

1. What is Nations Trust Bank - Allianz Life Insurance Protection?

Life Insurance Protection is an insurance policy which covers your credit card outstanding and offer the balance remaining (if any) from the sum assured, to the beneficiaries at the death / permanent disability of the Cardmember.

2. Who is eligible for this insurance policy?

It is available to all holders of American Express Credit Cards [“Card-member(s)”] issued by Nations Trust Bank PLC (The Bank), excluding American Express Corporate cards and Explorer Cardmembers.

3. What are main coverages in the policy?
  • Death Cover 
  • Total or Permanent Disability (Accident & Sickness) 
  • Funeral Expenses 
  • Repatriation Cost
4. What is the age range to be eligible for the policy?

Cardmembers of age between 18 – 69 years (i.e. nearest birthdays are eligible for coverage)

  • Maximum age for Life Cover ceases at 70 years 
  • Maximum age for Total Permanent Disability (TPD) cover ceases at 65 years 
5. What are the documents required to register with the Life Protector Insurance Cover?

Application/Nomination Form - Insurance Protector Cover

  • Duly completed application form should be signed and submitted to the nearest Nations Trust Bank branch 
  • New applicants should submit the Credit Card Application form and other relevant documents as per the Nations Trust Bank credit card application policy and the insurance policy eligibility will depend on the Nations Trust Bank credit evaluation policy and the type of card.
6. How will the customer be informed whether the request has been processed?
  • Nations Trust Bank Cardmember will receive the Automatic Bill Settlement facility registration (approved/declined request) notification via an SMS.
  • Allianz Life Insurance Protector policy card will be sent to the Nations Trust Bank Cardmember upon the successful registration with the insurance policy as per the eligibility criteria.
7. What are the annual premiums and sum assured amounts for each card type?
  *Nations Trust Bank Credit Card Limit Annual Premium Amount (LKR)
Plan 1 Up to 50,000 95.00
Plan 2 50,001 to 250,000 265.00
Plan 3 250,001 to 500,000 405.00
Plan 4 500,001 to 1,000,000 810.00
Plan 5 1,000,001 to 1,500,000 1,215.00

*Sum assurance amount is equivalent to the credit limit of the card.

8. What are the facilities the policy holder obtains through this scheme?
  • Death Cover 
  • Total and Permanent Disability Cover
  • Funeral Expense Benefit 
  • Repatriation Cost

 

Benefit Plan 1 Plan 2 Plan 3 Plan 4 Plan 5
Death Benefit 50,000.00 250,000.00 500,000.00 1,000,000.00 1,500,000.00
Total & Permanent Disability 50,000.00 250,000.00 500,000.00 1,000,000.00 1,500,000.00
Funeral Expenses Benefit 10,000.00 25,000.00 50,000.00 100,000.00 150,000.00
Repatriation Cost 10,000.00 25,000.00 50,000.00 100,000.00 150,000.00
Annual  Premium 95.00 265.00 405.00 810.00 1,215.00
9. How does the annual premium payment and policy renewal happen?

Premium amount as per the particular card type, is charged to the credit card account of the cardmember annually.

Policy is renewed automatically with the insurance partner. If the cardmember does not wish to renew the insurance cover, a written notice of objection must be made to the Bank within 30 days of the premium payment due date.

10. Whom should the customer inform in the event of an insurance claim?

Nations Trust Bank contact center or Nations Trust Bank Branch should be contacted and informed on a claim.

11. What are the documents to be submitted at the time of a claim?
  • Duly Filled Claim Form (The form will be issued by Allianz, based on the nature of the request)
  • - Death Claim : Claim Form is not required 
  • - Permanent disability : Claim Form will be issued by the Insurance Company after referencing the medical reports.
  • Death / Accidental Death: Death Certificate.
  • Medical Reports 

Aforementioned documents should be submitted to the nearest branch or scanned copies can be emailed to americanexpress@nationstrust.com 

Allianz Life Protection Customer Information



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If you require further clarification on the Nations Trust Bank financial services, please contact us on:

24 HOUR CONTACT CENTRE
+94 (0)11 4 711411

AMERICAN EXPRESS CALL CENTRE
+94 (0)11 4 414141

SMS BANKING NUMBER
+94 (0)11 4 682767