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Payment Protection

Enjoy peace of mind from our Optional Payment Protection Insurance, knowing that your Credit Card repayments may be covered when you need it most.

Features

This table shows what you can get from Payment Protection Insurance on your credit card.

Payment Protection Classic/BOI Clear Platinum
In the event of death your outstanding balance is paid up to a maximum of €15,500 YES YES
In the event of disability 10% of your monthly balance is credited to your account up to a maximum of €2,000*. YES YES
In the event of redundancy 10% of your outstanding monthly balance up to a maximum of €2,000 will be credited to your account (not available if state or self employed)*. YES YES
In the event of critical illness/major injury your outstanding balance will be paid up to a maximum of €15,500 (for state and self employed only). YES YES
Purchase Protection Automatic Protection Automatic Protection
*Subject to a maximum of 12 monthly payments

Payment Protection Insurance is available through Bank of Ireland Insurance Services Limited. Payment Protection Insurance cover is underwritten by New Ireland Assurance Company plc, trading as Bank of Ireland Life, and Financial Assurance Company Limited trading as Genworth Financial. Bank of Ireland is a tied Insurance agent of New Ireland Assurance Company plc.

New Ireland Assurance PLC is a member of the Bank of Ireland Group

Bank of Ireland Insurance Services Limited is a member of the Bank of Ireland Group. Bank of Ireland Insurance Services Limited is regulated by the Central Bank of Ireland. New Ireland Assurance Company plc, trading as Bank of Ireland Life, is regulated by the Central Bank of Ireland. Financial Assurance Company Limited is regulated in the UK by the Financial Services Authority and in Ireland by the Central Bank of Ireland.

Terms and Conditions Apply

Rates

 

Rates

The costs of Payment Protection for a credit card varies depend on the type of card and the amount of the outstanding balance.

Prices for each type of credit card:

  • Classic Card - 80c per €100
  • Platinum Advantage Card - 70c per €100

Purchase Protection is automatically included with the Platinum Advantage Card.

Refunds and cancellation

If you are not satisfied with your cover, please write to or contact Bank of Ireland, Credit Card Services, 33-35 Nassau Street, Dublin 2 within 30 days of the start date, and receive a refund of any premium paid.

Thereafter, you may cancel your credit card insurance cover at any time. Please write to or contact Bank of Ireland, Credit Card Services, 33-35 Nassau Street, Dublin 2, giving 30 days notice in writing. No refund of monthly premium will be paid.

Terms and Conditions

 

Terms and conditions apply

Download Platinum Credit Card Policy Booklet (PDF, 53KB)

Download Classic Credit Card Policy Booklet (PDF, 53KB)

Download Gold Credit Card Policy Booklet (PDF, 53KB)

Download Affinity Credit Card Policy Booklet (PDF, 53KB)

How to claim

If you need to make a claim, you can obtain a claim form from Genworth Financial whose telephone is +353 61 73 73 73 or alternatively write to: Genworth Financial, PO Box 602, Shannon, County Clare.

Complaints procedure

We set ourselves high standards, but if you are not satisfied with our service please tell us. If you follow the procedure set out below, we will deal with your complaint in the most efficient way possible.

Step 1: Please contact Genworth Financial, PO Box 602, Shannon, County Clare

Step 2: If you are still not happy or the problem has not been resolved to your satisfaction, you may refer it to the Financial Services Ombudsman's at 3rd Floor, Lincoln House, Lincoln Place, Dublin 2. Lo-call 1890 88 22 90

If you complain it will not affect your legal rights.

Terms of Business

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Eligibility

  • Over 18 years at the commencement date of the loan and under 65 at the end date of the policy agreement
  • Must not know that any disability, involuntary unemployment, critical illness/major injury is likely to happen.
  • For Purchase Protection - customers must be aged between 18 and 75 years (Cover ceases on 75th birthday)

Exclusions

  • Pre-existing illness is excluded where a customer is receiving medical advice, treatment or counselling for an illness in the 12 months prior to taking out a payment protection policy, that illness will not be covered for the term of the agreement
  • Alcohol and drugs related illnesses
  • Backache is excluded, except where there is radiological evidence (an X-ray) from a consultant
  • You must be in work and have your credit card for 90 days before you can claim Compulsory Redundancy Cover.
  • You must be in full-time employment continuously for six months immediately before your employment ending in either Ireland or the UK