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You can get insurance protection for what matters most.

Optional American Express® Creditor Insurance UltimateTM 1

By enrolling today, you can help protect your Flexible Payment Option Balance*, for up to $30,000, on your American Express Charge Card if you experience a covered job loss, total disability, critical illness, disability requiring hospitalization or death. You can also receive a benefit when you’re celebrating certain covered events! See below for Coverage Details.

Coverage Details

Coverage with Lump Sum Benefit - Flexible Payment Option Balance* as of the date of loss
Coverage with Lump Sum Benefit - Flexible Payment Option Balance* as of the date of loss
Life
Eligibility
You must be under the age of 80 at the date of death.
Main Exclusions
Death results from suicide within 6 months of the effective date
Critical Illness
Eligibility
Covered critical illnesses are heart attack, stroke, cancer, and coronary artery bypass surgery and you must:

  1. be under the age of 70 at the date of diagnosis;
  2. be diagnosed with the critical illness for the first time in your life; and
  3. survive the initial diagnosis for at least 30 days.
Main Exclusions
Critical illness results from:
  • pre-existing condition within 6 months of the effective date
  • non-invasive cancers in situ
Disability Requiring Hospitalization
Eligibility
You are hospitalized due to accidental bodily injury or sickness and you must:

  1. be under the age of 70 at the date of your hospitalization; and
  2. remain hospitalized for more than 24 consecutive hours.
Main Exclusions
Hospitalization outside Canada or the United States


Coverage with Monthly Benefits - 20% of the applicable Flexible Payment Option Balance*, except Positive Life Event for which the benefit is a single payment equal to 10% of the applicable Flexible Payment Option Balance*.
Coverage with Monthly Benefits - 20% of the applicable Flexible Payment Option Balance*, except Positive Life Event for which the benefit is a single payment equal to 10% of the applicable Flexible Payment Option Balance*.
Total Disability with Positive Life Events
Eligibility

Total Disability

You must:

  1. be under the age of 70 on the first day of total disability;
  2. be unable to perform your normal activities of daily living including the regular duties of your employment or self-employment;
  3. remain totally disabled for more than 30 consecutive days; and
  4. be regularly seen by a licensed physician.

Positive Life Event

You must be under the age of 70 on the date of one of the following events:

Retirement from your principal occupation (lifetime limit of one payment), purchase of a home for use as a principal residence, marriage, child’s marriage, birth/adoption of a new child, child entering college or university for the first time.

A maximum of 2 covered Positive Life Events in any 12-month period can be paid.

Main Exclusions
None
Job Loss
Eligibility

You lose your job due to:

  • involuntary layoff, strike, lockout, labour dispute or dismissal without cause; or
  • a permanent closure of your business for financial reasons.

You must:

  1. be under the age of 70 at the date of job loss;
  2. have worked for salary, wages or income for at least 25 hours per week;
    1. for a single employer:
      • working for at least 3 consecutive months immediately prior to the date of job loss; and
      • the occupation is NOT seasonal; or
    2. for your own active business which has been registered or incorporated for at least 12 months; and
  3. remain unemployed for more than 30 consecutive days.
Main Exclusions
No benefits when job loss is due to or results from:
  • expiration of a fixed-term contract of employment at the end of its term
  • loss of self-employment for any reason within 12 months of the effective date
*Flexible Payment Option Balance means the lesser of: (1) Flexible Payment Option limit minus the available Flexible Payment Option limit and (2) $30,000. Any minimum amount due on your statement, which is due in full in accordance with Your Amex Bank of Canada cardmember agreement, is NOT covered. For details on how to calculate the Flexible Payment Option Balance, please click here.

What Does It Cost?

You’ll pay $0.99 † per $100 of your current month’s Flexible Payment Option Balance**, less any current insurance premium included in that balance, plus applicable taxes.
For more details, please click here.

Here’s how it works:
For example, if you have a Flexible Payment Option Balance (excluding current month’s insurance premium) of $500:

$0.99/$100 X $500 = $4.95
Your monthly premium in this case would be $4.95 plus applicable taxes.
Your premium will be conveniently billed to your American Express Charge Card. Since your premium is calculated based on your current monthly Flexible Payment Option Balance, your premium will fluctuate.
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Enroll in American Express®
Creditor Insurance UltimateTM

Here are a few things that you need to know:

To enroll you must be the basic cardmember of an eligible American Express Charge Card. You must also be a resident of Canada, at least 18 years old and less than 68 years old at time of enrollment.

American Express® Creditor Insurance UltimateTM is not available to residents of the province of Quebec.

American Express® Creditor Insurance UltimateTM benefits are based on your Flexible Payment Option Balance ONLY. Any minimum amount due on your statement, which is due in full in accordance with Your Amex Bank of Canada cardmember agreement, is NOT covered.

Before you enroll, it is important that you read the Certificate of Insurance, which outlines the full terms, eligibility, benefits, limitations and exclusions of this product.

This OPTIONAL program is provided by Assurant®. Assurant® respects your privacy, please review Assurant’s Privacy Policy.

Please acknowledge that you have read and understood:
  • (1) the monthly premium, coverage details, terms, eligibility, benefits, limitations and exclusions that are contained in the Certificate of Insurance, and consent to enroll in the optional American Express Creditor Insurance Ultimate; and
  • (2) Assurant’s Privacy Policy.

Please provide the information below to complete your enrollment:

Please confirm you are not a robot.

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