What is the amount of compensation for life insurance for credit cards or overdraft?

There are several scenarios that you need to take into account, namely:

➤ death from any cause: the beneficiary will receive as compensation the entire amount used from the credit line (thus the debt to the bank is covered and the family is exempt from paying this amount);

➤ involuntary job loss or hospitalization due to illness or accident: the compensated amounts will cover at least the equivalent value of the obligation lpayment order of beneficiary;

➤ in case of involuntary loss of job, a maximum of 6 installments/event will be compensated, and in case of hospitalization due to illness or accident, one installment/event will be compensated, up to 11,000 lei;

➤ I have gathered all the information in this compensation guide.  😉