Credit Card Balance Insurance

Mosaik® MasterCard®* Balance Insurance protects the balance on your Mosaik MasterCard, helps maintain your credit rating, and protects you and your family in case of unexpected events.

Benefits

• Critical Illness: If you are a primary or spousal cardholder under 65 years of age and were to become diagnosed with a critical illness (cancer, heart attack or stroke) for the first time, Mosaik MasterCard Balance Insurance would pay the new balance owing on your MasterCard account in full at the time of diagnosis, up to a maximum of $10,000.
   
• Job Loss: If you are a primary cardholder under 65 years of age and you become involuntarily unemployed, Mosaik MasterCard Balance Insurance will pay a monthly amount equal to the greater of $10 or 5% of your Mosaik MasterCard new balance, as at the billing date coinciding with or immediately preceding unemployment.
   
• Disability: If you are a primary cardholder under age 65 and you become totally disabled, and the total disability continues beyond the elimination period, Mosaik MasterCard will pay a monthly amount equal to the greater of $10 or 5% of your Mosaik MasterCard new balance, as at the billing date coinciding with or immediately preceding total disability.
   
• Life Insurance: If you are a primary or spousal cardholder under age 65 and you die, Mosaik MasterCard Balance Insurance will pay your new balance as at the date of death, including all in-transit retail sales and cash advances incurred prior to death, up to a maximum of $10,000.
   
• Accidental Death Insurance: If you are a primary or spousal cardholder 65 or older and you die by accidental means, Mosaik MasterCard Balance Insurance will pay your new balance as at the date of death, including all in-transit retail sales and cash advances incurred prior to death, up to a maximum of $10,000.
   
• Accidental Dismemberment Insurance: If you are a primary or spousal cardholder and you lose the sight in both eyes or a limb within 365 days of an accident, Mosaik MasterCard Balance Insurance will pay your new balance as at the billing date coinciding with or immediately preceding the date of loss, up to a maximum of $10,000.

Eligibility
You must be a resident of Canada and have entered into a Mosaik MasterCard Cardholder Agreement.

When Does Coverage Begin and End?
Coverage begins on:

• The first day of the month following the date we receive your request for insurance.

Coverage ends on:

• The first day of the month following your request to cancel; or
• The date of termination of the group policy; or
• Your death; or
• The date your Mosaik MasterCard account is no longer in good standing with BMO Bank of Montreal.

Cost
The premium for Mosaik MasterCard Balance Insurance is 94 cents for each $100 of outstanding balance on your Mosaik MasterCard. Benefits reduce at the age of 65.

Enrol today: Call BMO Life at 1 800 268-5962.

Learn more about Mosaik MasterCard
Apply for a Mosaik MasterCard

All benefits described herein are subject to EXCLUSIONS AND LIMITATIONS. Benefits reduce at the age of 65. Please refer to your Certificate of Insurance for details of your coverage.