The credit card account you
have with us is insured. This is to notify you that we plan to replace
your current coverage with insurance coverage from a different insurer.
If we obtain insurance for your account from a different
insurer, you may cancel the insurance.
[Your premium rate will increase to $
per
.]
[Your coverage will be affected by the following:
- The elimination of a type of coverage previously
provided to you. [(explanation)] [See
of the
attached policy for details.]
- A lowering of the age at which your coverage will
terminate or will become more restrictive. [(explanation)] [See
of the attached policy or certificate for details.]
- A decrease in your maximum insurable loan balance,
maximum periodic benefit payment, maximum number of payments, or any
other decrease in the dollar amount of your coverage or benefits.
[(explanation)] [See
of the attached policy or certificate
for details.]
- A restriction on the eligibility for benefits for
you or others. [(explanation)] [See
of the
attached policy or certificate for details.]
- A restriction in the definition of “disability” or
other key term of coverage. [(explanation)] [See
of the
attached policy or certificate for details.]
- The addition of exclusions or limitations that are
broader or other than those under the current coverage. [(explanation)]
[See
of the attached policy or certificate
for details.]
- An increase in the elimination (waiting) period or
a change to nonretroactive coverage. [(explanation)] [See
of the attached policy or certificate for details).]
[The name and mailing address of the new insurer providing
the coverage for your account is (name and address).]
