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Card insurance

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Card insurance

The insurance products are intended for both individuals and legal entities who own debit and credit instruments.

The insurance applies to a specific payment instrument. If the client holds multiple instruments, even under the same account, they may insure one or several payment instruments separately.

The policy is valid for one year and is terminated upon the occurrence of the first insured event. A new policy must then be issued.

If the card has less than one year remaining until expiration, the one-year policy will be valid only for the duration of the card's validity.

There are three types of insurance packages available for purchase by any holder of a payment instrument:

  • Standard
  • Extra
  • Premium

 

Service package

Standard

Extra

Premium

Service term

1 year

1 year

1 year

Insurance net premium (year)

GEL 10

GEL 15

GEL 20

Service termination

1. Following the occurrence of an insured event

2. Upon expiration of the insurance period

 

Reimbursement Terms

Standard

Extra

Premium

Fraudulent transaction conducted without internet usage

GEL 1,600

GEL 4,800

GEL 8,000

Fraudulent transaction conducted via internet

GEL 800

GEL 1,920

GEL 2,400

Number of reimbursable transactions

5 5 5

 

Transactions Not Covered by the Policy:

  1. Transactions performed using a PIN (ATM, POS, mPOS, etc.).
  2. Transactions for which the client cannot provide adequate evidence of non-execution.
  3. Transactions that have not been reported to investigative authorities.
  4. Transactions exceeding the policy limit.
  5. Policy coverage ends upon the first reimbursement; a new policy must be issued if further coverage is desired.
  6. Transactions conducted after the expiration of the policy.

Characteristics

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