NAC is a form of insurance typically purchased by banks or financial institutions to offer Accidental Death & Dismemberment coverage while traveling, at no cost, to its credit or debit cardholders. Coverage is activated when the cardholder charges the full fare for a ticket to their credit or debit card for travel on a common carrier. Typically, coverage applies only while riding as a passenger on a common carrier. The coverage may be expanded to include the duration of the trip.
Core Coverage:
- Accidental Death & Dismemberment (AD&D) - lump sum cash benefit
Optional Coverages:
- Medical Expense Reimbursement (MER) - as a result of the accident
- Trip Interruption
- Repatriation of Remains
- Trip Cancellation
- Lost Baggage
- Travel Assistance Services
Customer Profile:
Banks and financial institutions that issue credit or debit cards.
Distribution:
Group
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