Chase Payment Protector Plan

I cant find anything about death benefits on the Chase Payment Protector Plan. Quite frankly, this sounds like fraud.

Thanks for the response.

The link to the terms & conditions was removed as it may be a violation of forum policy. My apologies for that, it that's the case.

Similar to a life insurance policy, I would be paying a monthly premium (over an indeterminate period of time) with the end result being a lump-sum payment in return for said premiums paid.

I certainly don't see anything fraudulant in either of the above plans/policies.

The biggest issue that you are not the card holder...you are only authorized to use the card. Pretty sure she as the card holder would have to do the actual signing up for the program. If you sign up and then a death cert is submitted with the cause of death being Alzheimer's related, there may be some questions. These types of insurance programs are often seen as a major ripoff....they are expensive and profitable and they often find reasons not to pay.

Excellent and thanks.

That's the type of detailed type of reply I was looking for with my original post, as opposed to the uninformative "Sounds like fraud to me",(with no explanation as to why), response.

I'm not too familiar with the ins & outs of credit cards and such but seems similar to the fraud one commits by continuing to purchase stuff on credit, with the intent that when it gets to the point where they can't make payments , they would just walk away and hope they could settle for 50cents on the dollar.

Thanks again!!!

Definitely no expert here, but have to think there is some fine print or clause excluding pre-existing conditions such as this, especially considering the additional user aspect.

Before signing up for the added monthly expense I would read everything very carefully myself and find a lawyer that agrees with you and would defend you if Chase does not pay off the card and states you owe the balance.

You should be able to get a lawyer to at least listen for no charge.
if legal advise tells you it is fraud or something that Chase will never pay out, then I would not sign up for this protector plan.


There are similar mortgage insurance protection plans that are quite popular. Pays off the mortgage balance if the policy holder or one of the policy holders die BUT they ask health questions about the potential policy holder such pre-existing conditions in order to sign up and would reject your spouses' enrollment given her medical condition.

Thank You mreynolds.

I will look into it some more. Hopefully gets some definitive answers from Chase themselves and also from a lawyer.

I'm sure there must be more restrictions/conditions than just the 90-day waiting period addressed below in Chase's "amendment" to their terms and conditions shown below.

I will post back with my findings, for those that are as curious about this as I am.


11.1 Balance Cancellation - Death. You may be eligible for a Balance Cancellation because of an Accidental Death or Death (defined below) subject to the qualifications and exclusions below. ???Balance Cancellation??? means that you will receive a cancellation of your Account balance as of the date of your Accidental Death or Death, up to $25,000. If your Account balance exceeds the $25,000 maximum Balance Cancellation benefit, your estate will be responsible for the remaining balance. Only one (1) Balance Cancellation for Accidental Death or Death will be granted during the life of the Account.
11.2 Qualifications for a Balance Cancellation. For the first ninety (90) days after your enrollment date, you may be eligible for a Balance Cancellation in the event of your Accidental Death only. After the ninety (90) day period, you may be eligible for a Balance Cancellation because of your Death. ???Accidental Death??? means your death that (a) is directly due to an accidental injury that occurs after the enrollment date; (b) is independent of all other causes, except accidental injury; and (0) is unintended, unexpected, and unforeseen. ???Death??? means your death, which results from any cause except war or act of war (declared or not) or act of terrorism.
11.3 Exclusions. Your death is not an Accidental Death, if if results in whole or in part from (a) intentionally self-inflicted injury; (b) disease or treatment of disease, or any medical treatment unless for the treatment of an accidental injury; (c) infection, unless the infection is a direct result of an accidental injury; (d) the use of alcohol or other intoxicant; (a) the use of any drug, sedative or narcotic, unless taken by you as prescribed by a licensed physician; (f) participation in a riot or commission of an assault or felony; (g) flight in an aircraft, unless as a fare-paying passenger or crew member on a regularly scheduled commercial airline; (h) war or act of war (declared or not) or act of terrorism.
11.4 Qualification for Balance Cancellation. To qualify for Balance Cancellation because of your Accidental Death or Death, a legal representative of your estate must contact the Plan Administrator within one (1) year of the date of your Accidental Death or Death. A verification form will be provided that must be completed and returned to the Plan Administrator along with a certified death certificate. The Plan Administrator may also request additional documentation.

[SIZE=2]Thank you again for taking the time to respond.

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