Debt / Credit Protection
Protect your loved ones or business from loan liabilities
International Decreasing Term Assurance is a cost effective protection plan to protect your family or business from the burden of paying off the loan outstanding in the unfortunate event of your death, disability, or critical illness.
International Decreasing Term Assurance is a pure protection plan which helps you provision against your liabilities. This financial solution is effective where there is a decrease in outstanding liability with every payment, such as mortgage repayment or other loans where the debt is being repaid over time and hence one requires a decreased amount of liability cover.
You can effectively secure a personal / business liability by assigning the policy to the organization where you have availed your cash facility. The plan also provides life cover and the option riders to customize the plan to suit your need.
Life cover benefits include a lump sum payment on your death or diagnosis of terminal illness during the policy term.
Key features:-
- Allow your family to clear outstanding debts, if any
- Protect your business liabilities in case of demise of a key person or principal
- Protect your business if a key person or principal is critically ill
The policy owner or his/her beneficiary may call Citibank at +971 4 311 4000 or Zurich at +971 4 363 4567 or +44 1624 691111 to report a claim.
You may download the claim form by visiting https://www.zurich.ae/home/make-a-claim. In case you require any further assistance, please feel free to write to Citibank at insuranceclaims@citi.com or Zurich at benefit.claims@zurich.com.
Please visit Citibank NA Branch to initiate a cancellation request. Alternately, visit https://www.zurich.ae/home/my-forms and click on "I need to access my money" if you wish to cancel your existing policy or "I need to update my policy" for any service related requests. For any further details, you may call Citibank at +971 4 311 4000 or Zurich at +971 4 363 4567 or +44 1624 691111.
If you would like to contact Customer Happiness Contact Center of Insurance Authority of the UAE, here are the details –
Email: Customer.Service@ia.gov.ae
Telephone: 800(CBUAE)22823
Website: https://ia.gov.ae/en/ia/contact-us
International Deceasing Term Assurance is underwritten by Zurich International Life and Citibank is a distributor.
Click here to view product terms and conditions.
Citibank N.A. will receive a distribution fee (commission) from the Insurer equivalent to a percentage of the gross premium payable. Other Citi entities may receive additional compensation for the provision of product administration and management services.
Citibank N.A. will not be responsible for the rejection of any application/claim under this policy. Citibank N.A. does not underwrite or issue insurance policies. Citibank N.A. provides customer support by way of receiving payments from the customers and forwarding them to Zurich International Life Insurance Company, in addition to making such insurance products available to its customers. Premiums contributed by the Customer under this policy are not bank deposits or any other obligation of, or guaranteed by Citibank N.A., Citigroup or any of their affiliates and are subject to risks and possible loss of the principal amount invested.
Insurance products are subject to exclusions, special terms and conditions, medical underwriting requirements (as applicable) which are contained in the policy document. Insurance products are optional and underwritten by insurers, subject to the terms and conditions of each policy. Citibank N.A. does not underwrite or issue insurance policies. Citibank N.A. is not responsible for rejection of any application and/or claim made to the insurer . Citibank N.A. provides customer support by way of receiving payments from the customer and forwarding them to the Insurer, in addition to making such insurance products available to the customers. Policies can be cancelled at any time. If the policy is cancelled within the free-look period, which is 30 days from the date policy issuance, customers will be entitled to a refund of premium collected within that period as per the terms and conditions of the plan, but transfer charges may apply. For cancellations after the free-look period, there will be no refund of premiums paid as this policy is not a savings plan and does not acquire a cash value. In addition to terms and conditions of the insurer under each policy, Citibank Terms and Conditions apply and are subject to change. Please call our 24-Hour CitiPhone Banking Service on +971 4 311 4000 should you have any queries or complaints.
Citibank N.A. UAE Branch is registered with Central bank of UAE under license numbers BSD/504/83; 13/184/2019; BSD/2819/9, BSD/692/83, for Al Wasl Branch Dubai, MOE- Dubai; Sharjah, Abu Dhabi branches respectively, has partnered with Zurich International Life Insurance Company, an insurance company registered with Insurance Authority of the UAE under registration number 63 to offer this insurance product.