It is complimentary insurance for eligible Security Bank credit cardholders who will use their card to purchase items online within the promo period.

This offer is open to all principal and supplementary Next, Complete Cashback Platinum, Platinum, and World Mastercard credit cardholders.

Subject to the coverage, the limits and benefits cardholders will enjoy the following:

• Cost of non-delivered, incomplete items purchased online including the shipping fees. Items are insured if not delivered within 30 days from the scheduled delivery date to your registered address unless otherwise stated by the Seller and the Seller has failed to refund the cost of the items to your eligible card, in excess of the other applicable insurance.
• Damaged Items, the delivered items are insured against malfunctioning as a result of physical damage if the Seller or Courier failed to issue a refund to your eligible card within 60 days of delivery of the items, in excess of other applicable insurance.

The insurer will not be liable to pay for any claim, expenses or loss in connection with:

• Lawful confiscation by the Police, Government Agencies, Courts or other government authorities;
• Any fraudulent or willful act by You or;
• Any motor vehicle, airplanes, boats, automobiles and motorcycles and any equipment, including parts or accessories.
• Animals or plants;
• Cash, bullion, negotiable instruments, shares, traveler’s checks, or tickets of any description (including but not limited to tickets for sporting and entertainment events, and travel);
• Consumable or perishable items (including but not limited to food, flowers, drink, drugs, nutrition supplements);
• Motor vehicles, motorcycles or motor scooters, watercraft, aircraft and any equipment and/or parts necessary for its operation and or maintenance;
• Items purchased for commercial use including items purchased for re-sale or tools of trade or profession;
• Access to internet websites, software or data files downloaded from the internet including music files, photos, reading material, books and movies;
• Services provided via the internet such as cinema tickets, air tickets, hotel bookings, car rental, financial advice;
• Items purchased from a natural person either through a private transaction or an online auction website;
• Counterfeit or fake goods;
• Loss or damage due to a natural catastrophe, atmospheric or climatic conditions, wear and tear, depreciation, gradual deterioration, water, pollution or contamination of any• kind, manufacturing defects or inherent vice, vermin, insects, termites, mold, wet or dry rot, bacteria, rust, cleaning, servicing, maintenance, adjustment or repairs;
• Losses due to mechanical failure, electrical failure; software or data failure;
• Loss of data
•  Items purchased for resale or items which are used goods, damaged items or second-hand items at the time of purchase;
• Permanent household and/or business fixtures, including but not limited to carpeting, flooring and or/tiling, air conditioners, refrigerators, or heaters;
• Items that you have rented or leased;
• Items that were, at the time of purchase, used, rebuilt, refurbished, or remanufactured;
• Art, antiques, firearms and collection items;
• Furs, watches, jewelry, gems, precious stones and articles made of or containing gold (or other precious metals and/or precious stones);
• The cost or charges which do not relate to any purchase, which you paid using the eligible card; or
• Items deemed to be illegal by local government authorities.

Eligible cardholders are insured up to the indicated amount below:

• Per occurrence – USD200
• Annual Aggregate – USD200

1. Cardholder must use their eligible Security Bank to purchase items online.
2. The delivery address for the items must be the cardholder’s postal address in the Philippines, as registered with Security Bank.
3. A shipment tracking number must be assigned by the Seller or by the Courier.
4. The cardholder must take all necessary reasonable action against the Seller to demand replacement of items or refund the purchase amount to him/her.
5. The cardholder must inform the Seller in writing though registered or electronic mail of the non-delivery of Items with a demand for replacement within five days from expected arrival date of items;
6. The cardholder must inform the Seller in writing though registered or electronic mail of the non-delivery of Items with a demand for a full refund of the value of the items within five days from expected arrival date of items;
7. In the event that a claim is submitted for Damaged Goods, the cardholder must notify the Seller of the items and AIG Philippines Insurance, Inc. within 48 hours of delivery of the items.

Cardholders must submit a written notice of claim no later than thirty (30) calendar days from the date of the loss or incident. Failure to give notice within thirty (30) calendar days from the date of the loss incident will result in denial of the claim.

To file a claim, visit and log on to https://ph.mycardbenefits.com or send a claim notification to

AIG Philippines Insurance, Inc.
Claims Department
30/F Philam Life Tower, 8767 Paseo de Roxas
1226 Makati City, Philippines
Hotline #: +632 8878 5501
Contact Center Hours: 8:30am to 5:30pm, Monday to Friday Except Public Holidays
Email: [email protected]
Opening Hours: Monday thru Friday – 8:30 am to 5:30 pm

The cardholder must provide the following:

1. A signed claim form issued by AIG Philippines Insurance, Inc.
2. Cardholder’s statement of account or a copy of purchase receipt showing the payment of the covered purchases which was made entirely with the eligible card.

All payments to be made by the Insurer shall be paid to the eligible cardholder in the Philippines and such payments shall be subject to the laws and regulations in effect in the Philippines.

Each insurance benefit limit described in this Summary of Cover is in United States Dollars (USD). Payment of claims will be made in local currency where required by law using the official Foreign Exchange Rates published on the date the payment is made.

GENERAL DEFINITIONS
Terms with a specific meaning are defined below and have this meaning wherever they appear in initial capital letter.

Annual Aggregate Limit means the maximum amount of benefit per Cardholder under the e-Commerce Purchase Protect Insurance.

Cardholders/Insured Persons/You/Your means all individuals who have been issued an Eligible Card, including secondary or additional cardholders on the same account in the Philippines and where such Eligible Card is issued by a participating Issuer.

Collectible Item(s) means any object purchased intended to become a collection. This includes a work of art, antiques, or any object collected as a hobby, for display, or as an investment whose value may appreciate over time, including toys, comics and stamps.

Courier means a company duly licensed to engage in the business of transportation of goods or documents.

Covered Purchases/Goods means items, other than those listed in Section III (Exclusions), purchased entirely with the Eligible Card and/or have been acquired with points earned by a Rewards Program associated with the Eligible Card from an Issuer in the Territory.

Credit Account means any credit arrangement, from a qualified financial institution, for personal use, such as a credit card account or a car/home loan account.

Damaged Goods are Covered Purchases that can no longer perform the function they were intended for due to broken parts or material or structural failure due to physical damage sustained during delivery.

Eligible Card means a participating Issuer’s Mastercard Next, Complete Cashback Platinum, Platinum, or World credit cards.

Eligible Cardholders means those Cardholders with Eligible who shall be entitled to receive payment or such other benefit as is provided for in the Policy.

Issuer means a bank or financial institution or like entity that is authorized to operate a credit card program in the Territory and is participating in the insurance offering to Cardholders.

Per Occurrence Limit means the maximum amount of benefit available under the e-Commerce Purchase Protect for any single Covered Purchase.

Policy means the E-Commerce Purchase Protection contract of insurance.

Seller means a juridical entity duly organized, licensed and registered in accordance with the country of its principal place of business engaged in selling goods online.

Natural Catastrophe means flood, windstorm, lightning, fire, explosion, landslide, volcanic action, earthquake and/or tsunami.

Territory means any place within the Republic of the Philippines.

We/Us/Our/Insurer means AIG Philippines Insurance, Inc.

COVERAGE
Subject to the coverage, limits and conditions specified in the Summary of Cover, We will cover You under E-Commerce Purchase Protect, and reimburse You for the following:

a. Cost of non-delivered/and or incompletely delivered Goods purchased from the Seller including shipping charges. Goods are deemed non-delivered if the Goods are not delivered within 30 days from the scheduled delivery date to Your designated address, unless so otherwise stated by Seller and the Seller failed to refund You the cost of the goods to Your Eligible Card within 60 days from non-delivery, in excess of other applicable insurance. There is incomplete delivery when the goods delivered are lacking or insufficient from what was purchased online in a single transaction. If the Goods are completely delivered even at a later time, the same shall not be construed as an incomplete delivery per the terms of his policy. If the Goods, by its nature are impossible of partial delivery it will be considered as non-delivered or Damaged Goods.

b. Damaged Goods: The delivered Goods are insured against malfunctioning as a result of physical damage if the Seller or Courier failed to refund to Your Eligible Card within 60 days of delivery the value of the goods, in excess of other applicable insurance.

In all events, the Goods must be purchased from a Seller as defined herein using the Eligible Card to be covered under this Policy.

In the event of a valid claim, We will pay You the purchase price for each item(s) of Your purchase, up to the amount as specified in the Summary of Cover.

CONDITIONS
To be eligible for this coverage, the following needs to be present or to have occurred:

1. The delivery address for the Goods must be Your postal address in the Philippines as registered with the card Issuer.

2. A shipment tracking number must be assigned and provided by the Seller or by the Courier.

3. You must take all necessary reasonable action against the Seller to demand replacement of Goods or refund the purchase amount to You, such as by:

i. informing the Seller in writing through registered or electronic mail of the non-delivery of Goods with a demand for a replacement within five (5) days from expected date of arrival of the goods;

ii. informing the Seller in writing through registered or electronic mail of the non-delivery of goods with a demand for a full refund of the value of the goods within five (5) days from the expected date of arrival of the goods;

4. In the event that a claim is submitted for Damaged Goods, You shall notify the Seller of the Goods and Us within forty eight (48) hours of delivery of the Goods.