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Mastercard credit card payment insurance 

Guarantee your peace of mind

To sign up or find out more, call us at 1‑877‑871‑7500

Rest easy with our comprehensive coverage

Up to

5 x the balance1

of your credit card in case of accidental death, depending on your plan (up to $50,000)

Monthly payments of up to

10% of the balance

in case of disability or loss of employment, depending on your plan (up to $2,500/month)

Protect your lifestyle with payment insurance

  • Benefits will cover all or part of the outstanding balance on your credit card
  • Protect your balance in case of unforeseen events
  • Your acceptance is automatic—no medical exam or health questions
  • No premiums for the first month

Find the right plan for you

Coverage
Distinction Plan
Regular Plan
Autonomy Plan
65+ Plan
Life insurance
       
Accidental death
       
First cancer diagnosis
       
Critical illness diagnosis, including cancer
       
Accidental dismemberment
       
Disability
       
Job loss
       
Certain life events
       
Cost per $100 portion of balance appearing on your most recent statement4 $1.20 $0.99 $0.79 $0.69

Events covered

Job loss

For you

We'll make a monthly payment of up to 10% of your Mastercard credit card balance—up to $2,000 per month and $25,000 in total—so you can concentrate on your job search.

Disability

For you

Receive a monthly benefit of up to 10% of your balance while you recover (up to $2,500 per month and $25,000 in total).

First cancer diagnosis

For you and your spouse3

Focus on what's important—your health. In the case of a first cancer diagnosis, your outstanding balance is insured up to $10,000.

Critical illness diagnosis

For you and your spouse3

We'll cover up to $25,000 of your credit card balance in case of a cancer, heart attack or stroke diagnosis, so you can focus on getting better.

Life events

For you

Receive a lump-sum payment of $100 on your credit card to celebrate milestones such as a birth or adoption, wedding or purchase of a home. Spouses are also eligible to receive this payment for certain life events.2

Life insurance

For you and your spouse3

Protect the financial future of your loved ones should the unexpected happen. When you sign up for our credit card payment insurance, you'll receive a lump-sum payment of up to $25,000 on your outstanding balance in the event of death, depending on the plan you choose.

Accidental death

For you and your spouse3

Credit card payment insurance covers up to five times the amount of your balance (maximum $50,000) in case of accidental death, depending on the plan you choose.

Accidental dismemberment

For you and your spouse3

You'll receive a lump sum of up to $25,000 of your credit card balance.

Little details that matter

Eligibility criteria

Minimum age

Between the ages of 18 and 64 (except for the 65+ Plan)

Legal status

Canadian resident

Enrolment

Primary cardholder of a valid National Bank Mastercard credit card account in good standing

Distribution guides (Québec)

Some restrictions apply. For details, refer to your plan's Distribution Guide:

Distinction Plan [PDF]

Regular Plan [PDF]

Economic Plan [PDF]

Autonomy Plan [PDF]

65+ Plan [PDF]

Insurance Certificates

Some restrictions apply. For details, refer to your plan's insurance certificate:

Distinction Plan [PDF]

Regular Plan [PDF]

Economic Plan [PDF]

Autonomy Plan [PDF]

65+ Plan [PDF]

Legal disclaimers

Subject to the terms and conditions in the insurance certificate issued upon enrolment.

Insurer: National Bank Life Insurance Company

1. Balance: The outstanding balance on the most recent monthly statement of the Mastercard credit card account prior to the date of the insured event.

2. The spouse of the primary cardholder will receive the lump sum for the following life events: obtaining a post-secondary degree, paying the last instalment on a mortgage and retiring (one lifetime milestone payment per person per event). The payment is credited to the primary cardholder's account.

3. Spouses are only covered if they are authorized users of the Mastercard credit card.

4. Plus applicable taxes. Applicable taxe on premiums : Quebec : 9%, Ontario and Manitoba : 8%

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Ready to choose a plan?

To sign up or find out more about the terms and conditions, call us at

1‑877‑871‑7500.

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