Payment Protection Insurance annual statement

For your credit card

Your questions

• What is this? Why have I received it?
• What do I do with it?
• What is Payment Protection Insurance?
• My personal details are incorrect, how do I change this?
• I don’t want/need this anymore, how do I cancel it?
• I’ve read the eligibility criteria and don’t think I meet this, what do I do?
• I have some questions about the policy, can you answer them please?
• I have received a policy summary that says that I didn’t receive advice or a recommendation when I bought it. I did, I was advised that I should take out this insurance to cover the payments for my credit card – why is this different?
• Can I get a copy of the policy wording?

Answers

What is this? Why have I received it?

As a result of the Competition Commission PPI Market investigation, it is a regulatory requirement for you to receive an Annual Review relating to your Credit Card Payment Protection Insurance. This Statement includes the details of the types of cover included in the Policy and the cost of insurance over the last 12-months.

It also provides you with the cost of the insurance per £100 of benefit which enables you to compare the cost of the insurance with other providers.

What do I do with it?

The statement is for your own records. We would suggest you keep it in a safe place for future reference.

What is Payment Protection Insurance?

Payment Protection Insurance is an optional insurance policy to assist protecting the payment of your CB credit card balance in the event of death, Accident or Sickness and Unemployment subject to eligibility. Terms and conditions apply. Please refer to your policy documents for more information.

Subject to a successful claim, Payment Protection Insurance will provide you with the following:

(a) Pay your outstanding balance up to a maximum of £25,000 in the event of your death.

or (b) In the event that you are unable to work due to accident, sickness or unemployment will pay 10% of your outstanding credit card balance each month until the following:

• You return to work
• The balance on your credit card is cleared
• A maximum of 12 monthly payments have been made.

My personal details are incorrect, how do I change this?

Please call us to update any changes to your personal details on 0800 678 3320.

We are able to update certain pieces of information over the phone, and where this is not possible we can give you advice on how to arrange this, please contact us on 0800 678 3320.

I don’t want/need this anymore, how do I cancel it?

If you feel that you no longer require this Policy, please call us to arrange cancellation on 0800 678 3320. Once instructed, your cover will cease immediately and cannot be reinstated.

I’ve read the eligibility criteria and don’t think I meet this, what do I do?

You are eligible for this insurance if at the start date you:

• Are aged 18 years or over but under 64
• Work at least 16 hours per week
• Live in the UK, and
• Are the principal cardholder.

If you feel that you no longer meet the requirements to be eligible for the benefits of this insurance policy, we can cancel this for you. Please call us to arrange this on 0800 678 3320. Terms and conditions apply. Please refer to your policy documents for more information.

I have some questions about the policy, can you answer them please?

Please refer to your policy documents as first reference, if it's relation to whether you can make a claim you should phone the Aviva Claims line on 0800 919 023 (Monday to Friday 9-5pm) or for policy queries call 0800 678 3320 (24 hours a day, 7 days a week).

I have received a policy summary that says that I didn’t receive advice or a recommendation when I bought it. I did, I was advised that I should take out this insurance to cover the payments for my credit card – why is this different?

Be assured that your policy isn’t any different to what you purchased in the past. If your policy started in 2008 or before, this would have been sold to you on an advised basis, however in 2009 the Bank moved to a non-advised sale process whereby you would have been provided with all the relevant information to make an informed choice to take out this insurance.

Can I get a copy of the policy wording?

You can download a copy of your policy wording from here:

Policy wording (PDF, opens in new window)

If you wish to register a complaint, please contact us:

In writing: Write to Customer Engagement Manager, Clydesdale Bank PLC, Guildhall, 2nd Floor, 57 Queen Street, Glasgow, G1 3ER

By phone: 0800 055 6655.