Balance Protect: Your Credit Card Protection Plan
We, together with FWD Life Insurance Corporation, will start providing Balance Protect, a credit card insurance plan that Security Bank credit cardholders can apply for. It acts as a safety net so that you and your loved ones will be protected in case life takes unexpected turns.Â
Balance Protect is a Group Credit Life Insurance (GCLI) product designed to pay for your total unpaid credit card transactions up to a maximum of PHP2,000,000 per cardholder in the event of your death, the first diagnosis of covered critical illness, or total and permanent disability. You or your beneficiaries will receive any excess amount after the credit card payment.Â
How does Balance Protect work?
Your Balance Protect coverage starts upon the first approval and charging of your premium to your Security Bank credit card. The premium is paid monthly based on your total unpaid credit card transactions multiplied by the premium rate of 0.366%.Â
Balance Protect covers the following transactions:Â
- Regular Straight – Local, International, and Online retail transactionsÂ
- Merchant Installment* – 0% ChargeLight Installment, Charge Now, Pay Later, and Reduced Rates Installment – including unbilled principal amountÂ
- In-House Installment* – Ready Cash, Balance Transfer, Convert To ChargeLight , and SimplyPay – including unbilled principal amountÂ
- Cash Advance – Over the Counter and ATMÂ
- Continuous Billings System – Auto Debit Arrangement
- All fees and charges such as but not limited to late payment, finance charge, over the limit, pre-termination, interest, monthly add-on, service quasi-cash, and annual fees
*For Merchant and In-House Installment transactions, the computation of your premium will be based on the principal amount.Â
Your Balance Protect coverage will end on the earliest of any of the following:Â
- Date of death or total and permanent disabilityÂ
- Date of payment of Critical Illness BenefitÂ
- Date when you turn 61 years oldÂ
- Date we are unable to successfully charge the premium to your credit card for 31 days after it becomes dueÂ
- Date when we approve your request to cancel your coverage
Check out our Frequently Asked Questions to learn more about how Balance Protect works.Â
Key features and benefits
- Group credit life insurance (GCLI)
Death benefit equivalent to 200% of your total unpaid credit card transactions, with a maximum of PHP2,000,000 per cardholder. This will be used to pay your credit card amount due, including unbilled installments. Your beneficiaries will receive any excess amount after the credit card payment. - Family Assistance Benefit (FAB)
Your beneficiary will receive a family assistance benefit equivalent to 10% of your total unpaid credit card transactions, with a maximum of PHP100,000 per cardholder. - Total and Permanent Disability Benefit (TPD)
Advanced from the death benefit that will pay for your total unpaid credit card transactions, including unbilled installments, if you become unable to independently perform at least three out of six activities of daily living: 1) washing, 2) dressing, 3) transferring, 4) mobility, 5) continence and 6) feeding, for a continuous period of six months and it leads to permanent inability to perform these activities. You will receive any excess amount after the credit card payment. After which, your coverage will end. - Critical Illness Benefit (CIB)
Advanced from the death benefit that will pay for your total unpaid credit card transactions, including unbilled installments in case of critical illness diagnosis, provided it first occurs, is first diagnosed or, you first experienced it 90 days from the start of your coverage; and that you survived at least 14 days after the diagnosis. You will receive any excess amount after the credit card payment. After which, your coverage will end.Â
How can I apply for Balance Protect?Â
You may apply online by visiting our Balance Protect application form.
In these uncertain times, peace of mind goes a long way. With our Balance Protect credit card feature, you can rest easy knowing that you will have coverage to pay off your credit card balance in case of death, disability, or critical illness.
AllHome - Agro
AllHome - Antipolo
AllHome - Bacolod
AllHome - Bataan
AllHome - Butuan
AllHome - Cabanatuan
AllHome - Cauayan
AllHome - CDO
AllHome - Cebu
AllHome - Dasmariñas
AllHome - Evia
AllHome - Gapan
AllHome - General Santos
AllHome - General Trias
AllHome - Global South
AllHome - Iloilo
AllHome - Imus
AllHome - Kawit
AllHome - Koronadal
AllHome - Las Piñas
AllHome - Libis
AllHome - Malolos
AllHome - Mintal
AllHome - Naga
AllHome - North Molino
AllHome - Pampanga
AllHome - QC
AllHome - QuickFix Camella East
AllHome - QuickFix Farm
AllHome - QuickFix M1 Annex
AllHome - QuickFix Masibay
AllHome - QuickFix Springville
AllHome - QuickFix Symphony
AllHome - QuickFix Venezia
AllHome - Salawag
AllHome - San Ildefonso
AllHome - Santiago
AllHome - Shaw
AllHome - Silang
AllHome - SJDM
AllHome - South Molino
AllHome - Sta. Maria
AllHome - Sta. Rosa
AllHome - Sto. Tomas
AllHome - Taguig
AllHome - Tanza
AllHome - WCC
AllHome - QuickFix Citta Italia
- Aerophone - Ayala Center Cebu
- Aerophone - Cybertech Quezon City
- Aerophone - SM Cebu
- Aerophone - SM Manila
- Aerophone - SM San Lazaro
This will close in 0 seconds
- CYA Industries Inc - Bacolod
- CYA Industries Inc - CDO
- CYA Industries Inc - Cebu
- CYA Industries Inc Showroom - Shangrila
- My Homedepot - Baliuag Tangos
- My Homedepot - Alabang Zapote
- My Homedepot - Angono
- My Homedepot - Barrera
- My Homedepot - Batangas
- My Homedepot - Cabanatuan
- My Homedepot - Calapan
- My Homedepot - Caloocan
- My Homedepot - Candelaria
- My Homedepot - Candon
- My Homedepot - Daet
- My Homedepot - Dasma
- My Homedepot - Fairview
- My Homedepot - Guagua
- My Homedepot - Gumaca
- My Homedepot - Iba
- My Homedepot - Imus
- My Homedepot - Los Banos
- My Homedepot - Malasiqui
- My Homedepot - Marikina
- My Homedepot - Mayapyap
- My Homedepot - Nayon Nova
- My Homedepot - Niog 3
- My Homedepot - Novaliches
- My Homedepot - Pasong Putik
- My Homedepot - Olongapo
- My Homedepot - Palanginan
- My Homedepot - Pilar
- My Homedepot - Paranaque
- My Homedepot - Pulilan
- My Homedepot - Roxas
- My Homedepot - San Jose
- My Homedepot - San Marcelino
- My Homedepot - San Rafael
- My Homedepot - Santiago
- My Homedepot - Silang
- My Homedepot - Sorsogon
- My Homedepot - Sta Cruz
- My Homedepot - Tarlac
- My Homedepot - Taytay
- My Homedepot - Urdaneta
This will close in 0 seconds
- Petbuddy Antipolo
- Petbuddy Bataan
- Petbuddy Dasmariñas
- Petbuddy Evia
- Petbuddy Malolos
- Petbuddy North Molino
- Petbuddy South Molino
- Petbuddy Springville
- Petbuddy Sta. Rosa
- Petbuddy Taguig
This will close in 3 seconds
- Allsports Bataan
- Allsports Evia
- Allsports Malolos
- Allsports Nomo
- Allsports Sjdm
- Allsports Taguig
- Alltoys Bataan
- Alltoys Evia
- Alltoys Malolos
- Alltoys Nomo
- Alltoys Sta. Rosa
- Alltoys Taguig
This will close in 1 seconds
- Finds - Bataan
- Finds - Dasmarinas
- Finds - General Trias
- Finds - Iloilo
- Finds - Las Pinas
- Finds - Malolos
- Finds - Naga
- Finds - NOMO
- Finds - Shaw Blvd.
- Finds - SJDM
- Finds - Sta.Rosa
- Finds - Taguig
This will close in 0 seconds
- No Name - Bataan
- No Name - Dasmarinas
- No Name - Pampanga
- No Name - Sta. Rosa
This will close in 0 seconds
- The Athlete'S Foot - Bataan
- The Athlete'S Foot - Evia
- The Athlete'S Foot - Sta Rosa
This will close in 0 seconds
- Pull And Bear - Cebu
- Pull And Bear - SM Megamall
- Pull And Bear - Trinoma
This will close in 0 seconds
- Zara - Cebu
- Zara - Glorietta
- Zara - Greenbelt
- Zara - SM Megamall
- Zara - SM Mall of Asia
- Zara - ONE BHS, BGC
- Zara - Rockwell
- Zara - Shangrila
- Zara - Trinoma
This will close in 0 seconds
- Bershka - Cebu
- Bershka - Glorietta
- Bershka - Megamall
- Bershka - Mall of Asia
- Bershka - Shangrila
This will close in 0 seconds
- Stradivarius - SM Aura
- Stradivarius - Glorietta
- Stradivarius - Megamall
- Stradivarius - Shangrila
This will close in 0 seconds
- Mandaue Foam - Butuan
- Mandaue Foam - Cebu
- Mandaue Foam - Banilad
- Mandaue Foam - Bohol
- Mandaue Foam - Cebu
- Mandaue Foam - Quimpo
- Mandaue Foam - Shaw Blvd.
- Mandaue Foam - (Philfoam) Cainta, Rizal
- Mandaue Foam - (Philfoam) Las Pinas
- Mandaue Foam - (Philfoam) Lipa, Batangas
- Mandaue Foam - (Philfoam) Quezon Avenue
This will close in 0 seconds
- Our Builders Warehouse - Bocaue
- Our Builders Warehouse - Guiguinto
- Our Builders Warehouse - Mabalacat
- Our Builders Warehouse - Malolos
- Our Builders Warehouse - Tagaytay
- Our Builders Warehouse - Dasmarinas
This will close in 0 seconds