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    Benefits and features

    Life

    • If you die, a lump sum is paid to your credit card to cover the balance outstanding at the date of your death, up to a maximum of $50,000

    Critical Illness

    • If you’re diagnosed with a defined critical illness (10 covered), a lump sum is paid to your NAB credit card to cover the balance outstanding at the date of your diagnosis, up to a maximum of $50,000

    Disablement

    • If you’re unable to work, or perform Activities of Daily Living functions for more than 30 days, due to injury or illness, a monthly benefit of 20% of your outstanding balance at the date of your disablement is paid to your NAB credit card for up to 18 months. This benefit is paid up to a maximum of $50,000

    Involuntary Unemployment

    • After you’ve become involuntarily unemployed and you remain unemployed for more than 30 days, a monthly benefit of 20% of your outstanding balance at the date of your unemployment is paid to your NAB credit card for up to 5 months. This benefit is paid up to a maximum of $50,000

    Other benefits

    • Worldwide cover—24 hours a day, 7 days a week.
    • No medical examinations required.
    • Access to Best Doctors® - A service that helps you and your family get a second opinion or advice on treatment you are receiving from over 50,000 doctors at no extra cost.

    Before you purchase

    You can purchase NAB Credit Card Cover online if you are:

    • the primary cardholder of the NAB credit card
    • aged 18–64 (inclusive), and
    • an Australian resident.

    This insurance also covers any additional eligible cardholder on the account at no extra cost.

    The purchase of this insurance is optional. You should also consider whether you already have these benefits under another insurance policy. A consultation with a financial planner is a good way to ensure that you have the cover you need.

    Before you purchase this insurance, read the NAB Credit Card Cover Product Disclosure Statement (PDS) & Policy Document (PDF, 386KB) and Financial Services Guide. The definitions, along with the terms, conditions and limitations, are outlined in the PDS (PDF, 386KB). You should read this carefully, as it also contains full details on when a claim will and won’t be paid, and the limits to the number of claims that you can make.

    Don’t forget to read “What’s covered” below by selecting the benefit headings.

    Premium

    • The cost is 79c per $100 (or part thereof) of the amount owing on your NAB credit card account. The premium is calculated on the closing date of each statement period.
    • How does this work? If you have, say, $2,800 owing on the closing date of the statement period, then the premium cost is $22.12 (79c x $2,800/100) for that month.
    • The premium will be charged to your credit card each month, and will incur interest in line with your credit card terms and conditions.
    • Your first month's premium is waived when you purchase credit card insurance.

    What's covered?

    Purchasing credit card insurance

    How to make a claim

    If you would like to make a claim, call 1300 125 246, 8am-5pm, Mon-Fri AEST/AEDT.

    Important information

    MLC Limited ABN 90 000 000 402, AFSL 230694 is the insurer and issuer of NAB Credit Card Cover which has been branded and distributed by National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB). MLC Limited may pay benefits to NAB and its related bodies corporate for the distribution of this product. This insurance is not a deposit with, a liability of, or guaranteed by NAB. MLC Limited is part of the Nippon Life Insurance Group and not a part of the NAB Group of Companies. Any financial advice in this notice is general only and has not been prepared having regard to your personal circumstances. You should consider your personal circumstances before acting on any advice in this notice. You should obtain a copy of the NAB Credit Card Cover Product Disclosure Statement and Policy Document (PDS) (PDF, 386KB) and NAB Financial Services Guide and consider them before making a decision whether to purchase this insurance.

    Apply now for credit card insurance

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