Citibank a.s. has this week enhanced its services linked to credit cards with a brand new insurance policy that covers the risk of the cardholder’s hospitalization. The insurance policy is optional and helps cardholders to maintain their current living standards in the event of injury or sickness. The insured sum may reach up to CZK 2,000 for each day of hospitalization and the claim money out paid under the insurance policy may be used for any purpose.
“Citibank wants to be for its clients a bank that, among other things, seeks to support their financial stability. Hospitalization is an unpleasant experience for anybody and, in addition, it also means that one’s income is lost – either in part or even in full. Therefore, we are offering our clients the option to insure, under very advantageous terms, the receipt of a part compensation for such loss. Because of this insurance, our clients now can feel much safer as the policy is providing continuous cover - whether going in for sport, at work or when travelling,“ said Bert Pijls, Business Head of Citibank Retail Banking Division.
The insurance policy, offered by Citibank in conjunction with AIG CZECH REPUBLIC pojišťovna, a.s., is free of charge for the first month. Thereafter, the premium depends on the sum insured. If the policy holder pays the minimum premium of Kc6.65 per day (in total, only Kc199 a month), s/he will receive Kc500 a day upon hospitalization. Upon hospitalization in intensive care, the claim paid is CZK 1,000 per day. Under the premium paid at Kc399 a month, the out paid claims are twice as high, that is, CZK 1,000 and CZK 2,000, respectively.
Furthermore, Citibank credit cards make it possible to take out a family insurance policy that, in addition to the cardholder, will also cover his/her family members. In this case, the lowest premium is CZK 399 a month and, the claim is CZK 500 and CZK 1,000, respectively. The higher version of this family insurance policy, such that offers the out payment of claims up to CZK 2,000 daily, costs CZK 799 a month.
Citibank offers Classic and Gold credit cards that are marked for their longest no-interest period available in the Czech market (55 days) and their beyond-the-standard security elements as the holder’s photograph and signature are imprinted on the card’s front side. The core card is free of charge on a condition that its holder spends at least CZK 36,000 on the card a year (it counts for a sum total of turnovers made on the core card and on so- called supplementary cards). If this minimum spent limit fails to be met, the card annual maintenance fee is CZK 500.
Optionally, Citibank credit cards, as the only credit cards in the Czech Republic, also offer unique complementary services – the Installment Purchase and the Cash On Phone. The Installment Purchase namely serves to finance one’s bigger purchases. It can be used for purchases in excess of CZK 10,000. After having paid for the purchase by card, through a phone call to CitiPhone Department, an arrangement can be made under which one’s repayments are spread over 3, 6, 9 or 12 months. No less unique is the Cash On Phone product under which clients can borrow money from their card in such a manner that the Bank sends the money to any bank account in the CR at the client’s choice.
