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Insurance Home » Account Protector Ultimate

Protection for the balance on your credit card.

AMEX® Account Protector Ultimate.
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Why should I enroll in Account Protector Ultimate* Insurance?

Sometimes, life throws a challenge—or two—your way. When the balance on your credit card has protection, you can rest easier knowing you can be in control when things don’t go exactly as planned. Positive life events? Account Protector Ultimate can help there, too.

Key features:

  • Can help make the payments on your Credit Card up to $20,000 in times of need, such as job loss, illness, injury or death.
  • You can also qualify for two Monthly Payment benefits during events like getting married, having a baby, retiring, or purchasing a new home.
 

*Amex® Account Protector Ultimate is not available to residents of the Province of Quebec.

Coverage Details

Your credit card balance can be paid up to $20,000 in one of these cases:

If you or your Spouse lose your life.
If you or your Spouse suffer an accidental death at age 80 or over.
If you or your Spouse experience loss of sight in both eyes, or a hand or foot by complete severance.
If you or your Spouse have a heart attack, stroke, cancer and coronary artery disease (only bypass surgery).
If you’re hospitalized due to accidental bodily injury or sickness beyond a 24-hour period.
If you become unemployed because of closure of your business for financial reasons. Must be self-employed at least 25 hours a week for at least 36 consecutive months.

Monthly payment benefits can be paid towards your balance in one of these cases:

If you or your Spouse are unable to perform the regular duties of your occupation due to accidental bodily injury or sickness. Benefits can be paid following 30 days of disability. After 90 consecutive days of Total Disability, the remaining balance on your credit card can be paid in full to a maximum of $20,000. Positive Life Events: Upon purchase of a home, marriage, child’s marriage, birth/ adoption of a child, child entering college or university for the first time, and retirement. Two Monthly Payment benefits can be paid towards your credit card balance.
If you become involuntarily unemployed while working at least 25 hours a week with one employer. Benefits can be paid following 30 days of unemployment. After 90 consecutive days of unemployment, the remaining balance on your credit card can be paid in full to a maximum of $20,000.

Excluded from this coverage:

  • Critical Illness resulting from a Pre-existing Condition
  • Unemployment from seasonal, temporary, contract or part-time employment (less than 25 hours per week)
  • Loss of self-employment income due to closure of business within 12 months of the effective date, willful or criminal misconduct; or voluntary forfeiture of wages or income
  • Disability requiring hospitalization in facilities for treatment of mental illness, aging, drug addiction, or alcoholism and in facilities outside of Canada or the United States

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Certificate of Insurance Privacy Disclosure

Your premium is calculated based on your current month’s outstanding balance, so it will fluctuate.
Monthly Premium = Current month’s outstanding balance x $0.99 / $100 (plus applicable taxes)
Example: Monthly outstanding balance is $500. $500 x $0.99 / $100 = $4.95 (plus applicable taxes)

Frequently Asked Questions

AMEX Account Protector Ultimate is an optional Credit Insurance program offered to American Express Cardmembers. Benefits can include coverage for the following:

  • Life
  • Dismemberment
  • Critical Illness
  • Involuntary Unemployment/Loss of Self-Employment Income
  • Total Disability with Positive Life Events
  • Disability Requiring Hospitalization
  • Accidental Death at Age 80 or Over

American Bankers Insurance Company of Florida (ABIC) and American Bankers Life Assurance Company of Florida (ABLAC) are the underwriters of this coverage. ABIC, ABLAC, and their subsidiaries and affiliates carry on business in Canada under the name of Assurant.

Enrolling online is easy! Simply visit the enrollment site to learn more & enroll. Please note that AMEX Account Protector Ultimate is not available to residents of the Province of Quebec

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TM, ®: Used by Amex Bank of Canada under license from American Express. AMEX® Account Protector Ultimate is underwritten by American Bankers Life Assurance Company of Florida (ABLAC) and American Bankers Insurance Company of Florida (ABIC) under Group Master Policy numbers 0708APUL and 0708APU. ABLAC, ABIC, their subsidiaries, and affiliates carry on business in Canada under the name of Assurant®. ®Assurant is a registered trademark of Assurant, Inc. Amex Bank of Canada identifies insurance providers and products that may be of interest to customers. We do not act as an agent or fiduciary for you, and we may act on behalf of the insurance provider, as permitted by law. We receive compensation from insurance providers and our compensation may vary by provider and product. These arrangements may also influence what products we identify. We do not require you to purchase any insurance product, and you may choose to cover your insurance needs from other sources.
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