Thursday, June 5, 2008

No Additional Charge/Cost (NAC) or Sign & Fly

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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