Starting a series on the lesser-known/talked about benefits of the ICICI Emeralde Private Metal (EPM) card.
These aren’t spoken about as much, but can be quite powerful if you actually know how to use them.
Bookmark this! 📕
I'll start with - Air Accident Insurance ✈️
These aren’t spoken about as much, but can be quite powerful if you actually know how to use them.
Bookmark this! 📕
I'll start with - Air Accident Insurance ✈️
EPM comes with a ₹3 crore Air Accident Cover!
1⃣If you die in an air accident, your nominee gets this payout.
2⃣Valid only if the air ticket was purchased using the EPM card.
3⃣You must have used the card at least once in the last 60 days.
1⃣If you die in an air accident, your nominee gets this payout.
2⃣Valid only if the air ticket was purchased using the EPM card.
3⃣You must have used the card at least once in the last 60 days.
How it works!
1⃣It’s a group insurance policy underwritten by ICICI Lombard.
2⃣ONLY the primary cardholder is covered!
3⃣Applies globally (international flights too).
4⃣Your nominee needs to show ticket proof and card statement at the time of claim.
1⃣It’s a group insurance policy underwritten by ICICI Lombard.
2⃣ONLY the primary cardholder is covered!
3⃣Applies globally (international flights too).
4⃣Your nominee needs to show ticket proof and card statement at the time of claim.
Does this mean you should always book flights using EPM? 🤔
₹3 crore is a huge safety net for your family!
₹3 crore is a huge safety net for your family!
Contrarily -
1⃣This policy is very narrow, they only pay out specifically for an air accident.
2⃣If you're chasing points/value, another card like Atlas may offer more points.
3⃣Term insurance you already have (say ₹3 crore) covers accidental death too, not just air crashes.
1⃣This policy is very narrow, they only pay out specifically for an air accident.
2⃣If you're chasing points/value, another card like Atlas may offer more points.
3⃣Term insurance you already have (say ₹3 crore) covers accidental death too, not just air crashes.
Worth noting!
If you book flights via the iShop portal using points, that may not qualify for air accident insurance. The insurer needs the card payment record to validate the cover.
If you book flights via the iShop portal using points, that may not qualify for air accident insurance. The insurer needs the card payment record to validate the cover.
The ICICI Bank FAQs clearly state:
“The primary Cardholder is entitled to Air Accident Insurance coverage of ₹3 Crore… provided that the tickets were purchased using the Credit Card.”
Notice the specific phrasing - “tickets were purchased using the Credit Card.”
“The primary Cardholder is entitled to Air Accident Insurance coverage of ₹3 Crore… provided that the tickets were purchased using the Credit Card.”
Notice the specific phrasing - “tickets were purchased using the Credit Card.”
To be on the safer side, assume a full-card transaction.
Importantly, the FAQ does not mention coverage if the ticket was booked partially using points + card.
Importantly, the FAQ does not mention coverage if the ticket was booked partially using points + card.
Term Plan vs EPM!
1⃣Term Plan covers death from any cause - illness, accident, air or otherwise.
2⃣EPM Insurance only pays if the death is due to an air crash and ticket was bought on EPM.
So if you already have a term cover, this is just a bonus buffer, not a substitute.
1⃣Term Plan covers death from any cause - illness, accident, air or otherwise.
2⃣EPM Insurance only pays if the death is due to an air crash and ticket was bought on EPM.
So if you already have a term cover, this is just a bonus buffer, not a substitute.
Bottom line!
If you're a frequent air traveler and booking revenue flights, it's recommended to use EPM to book flights, especially if you want that ₹3 crore cushion.
But don’t rely on it as your only cover, keep your term policy robust too.
If you're a frequent air traveler and booking revenue flights, it's recommended to use EPM to book flights, especially if you want that ₹3 crore cushion.
But don’t rely on it as your only cover, keep your term policy robust too.
Watch this space!
Next up I'll cover more lesser known benefits of EPM!
If you liked this thread, do follow! 😀
Next up I'll cover more lesser known benefits of EPM!
If you liked this thread, do follow! 😀
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