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Who is eligible for this credit life and disability insurance product?
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A: You must be an existing OSBN Cardmember in order to apply for the Credit Protection Plan. You must also be the primary Cardmember and under the age of 71 (72 in NM).
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What if I have more than one American Express® account?
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A: The Plan will cover your payments only for the particular Card account for which you enroll. It is possible to enroll multiple credit or charge accounts in the Credit Protection Plan, although you will be charged a separate premium for each account enrolled for which a Certificate is issued. Each American Express Card must be enrolled individually, if eligible.
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What happens if I do not have a monthly ending balance in a given month?
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A: When you do not carry over a balance from the previous month and do not have any spend on your card in the current month, you will not be charged for the Credit Protection Plan that month.
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Why are the rates different for each state?
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A: The state rates are derived from filings approved by the Departments of Insurance in individual states.
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What happens when I have an open claim?
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A: We will pay your minimum monthly payment up to the allowed limits. While you are on claim, you may continue using your Card while your Card remains in good standing.
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How do I cancel my plan?
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A: You can either call Balboa Life Insurance Company customer service at 1-800-662-2633 or write a letter to Customer Service at:
Credit Protection Plan
P.O. Box 19702
Irvine, CA 92623-9702
Attention: Customer Service
Please remember to include your name, Account number, date, and signature. We process most requests within 48 hours of receipt and you will receive a letter confirming your cancellation. If you have any further questions, please call Customer Service at 1-800-662-2633.
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