Did you know that your credit card could carry accidental death insurance? Not many do, here are the details.
Your in line to purchase your plane ticket. Ever wonder whether you should pick up some insurance just in case? Well, not to worry, you may already have that extra insurance right in your wallet. Check your credit cards.
Each of the four major credit card brands (American Express, Discover, MasterCard and Visa) offer some form of coverage. This is what the insurance industry calls “accidental death and dismemberment” or AD&D coverage.
The benefits vary by brand and card type and can range in coverage from $100,000 to $1 million.
If your card offers it, you are automatically covered while traveling on what is called a “common carrier conveyance,” such as a commercial flight, boat, train or bus, as long as you paid for your ticket with the credit card that offers the coverage. Your spouse and dependent children traveling with you might also be covered, as long as their fares were purchased on a card that covers them.
Back in the 1980’s credit card companies began offering insurance products as value-added incentives . Today you have to look into the fine print on your card member benefit papers since this is not advertised so readily.
Some lenders have changed the benefit over the years. An example is lessening the coverage and adding charges for a higher coverage amount. Approximately two years ago the lenders that lowered the amount paid decided they could charge you extra for higher coverage.
Although it might be the last thing on your mind as you prepare for boarding, your credit card travel accident coverage remains a terrific bargain in a worst-case scenario. Read the fine print and see just what your card offers. Inform others as well.
Just as this information may have been a surpirse, you may also be surprised that you have money being held as unclaimed property. Each state and the federal government received unclaimed money and property which it by law has the responsibiity of finding rightful owners and returning the unclaimed assets.
CashUnclaimed.com was founded with the idea of making it very simple for a person to check all state an federal databases with one entry of their name. This company has been very successful in returning money to rightful owners. It is free and easy to do a money search.