Balance Protection

The MBNA® Credit Card Payment Protection Plan helps you deal with your credit card payment obligations in certain covered events. Protect yourself by insuring your balance.

If you’re between the ages of 21 and 65 then the MBNA® Credit Card Payment Protection Plan1 can help protect the balance of your credit card account during some of the really difficult times in life. For example, if you have to cope with Job Loss, Total Disability or loss of Life.

Payment Protection Plan

For a monthly premium charge of $1.20 per $100 of your insured balance5, plus applicable taxes, you can enroll in Payment Protection Plan1 today. Enjoy the security of knowing that the amount owing on your Credit Card Account, as of your date of loss, can be protected by either a lump sum payment or monthly payments, to a maximum of $25,000, should you experience one of the following covered events4:

  • Loss of Life2
  • Job Loss2
  • Total Disability2

If you meet the eligibility requirements2, the monthly benefit payment will be equal to the greater of 20% of the Eligible Balance3 and $10. Total monthly benefits will not exceed $25,000, the maximum amount of insurance.

Sign in to enrol

Plan Features

Get a refund of premiums while receiving monthly benefits, and on your return to work after a covered Total Disability or Job Loss claim you could receive one additional monthly benefit payment.

Find out more

  • Apply online

    Get protection

    Sign in to MBNA Online Banking and get the optional Payment Protection Plan.

    Sign in to enrol

  • File or check your claim

    If you’re already enrolled, you can file a claim or check the status of an existing claim.

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