PC Financial®

Product Summaries

President’s Choice Bank

Insurance Coverages provided with the President’s Choice Financial® Mastercard® President’s Choice Financial® World Mastercard®

  • Purchase Assurance
  • Extended Warranty

This Summary Contains Important Information

The Summary within is meant to provide an overview of the features and benefits of the insurance coverages (“Coverage”) listed above, provided with the President’s Choice Financial Mastercard or President’s Choice Financial World Mastercard (“PC Financial Mastercard”).

INSURER

POLICYHOLDER/DISTRIBUTOR

American Bankers Insurance Company of Florida*

*Carrying on business in Canada under the trade name Assurant®†

5000 Yonge Street, Suite 2000

Toronto, Ontario M2N 7E9

Phone: 1-866-892-8683

Client number of the insurer with the Autorité des marchés financiers: 2000979997

Website of the Autorité des marchés financiers: lautorite.qc.ca

President’s Choice Bank

600-500 Boul. Lake Shore W.

Toronto, ON M5V 2V9

Who qualifies for this Coverage?

The primary cardholder of a PC Financial Mastercard who is a natural person, resident of Canada.

Who is insured under this Coverage?

The Cardholder (“You” and “Your”). Primary Cardholder and/or any supplemental cardholder, who is also natural person, resident of Canada and to whom a PC Financial Mastercard is issued and whose name is on the card.

What is the cost of this Coverage?

No additional fee will be charged for this Coverage provided with the PC Financial Mastercard.

What is this Coverage?

This Coverage is a group insurance product covering losses arising from sudden and unforeseeable events (please see the certificate of insurance for full details and exclusions):

 

Eligibility

Benefits

Exclusions/Limitations

Purchase Assurance**

When You purchase new personal items (“Insured Items”):

  1. You must  charge the full cost of the Insured Items to Your PC Financial Mastercard;

    AND

  2. within 90 days of the date of purchase, the Insured Items are lost, stolen or damaged anywhere in the world.

The insurer may:

  1. repair, rebuild or replace the Insured Item; or
  2. pay You the lesser of the:
    • original purchase price;
    • replacement price;
      or
    • repair cost.

Maximum:
A lifetime maximum of $50,000 per account with a maximum of $1,000 per incident

It  does not cover certain items such as:

  • mail order items not delivered or damaged upon delivery, traveller’s cheque and tickets

  • perishables

  • motorized vehicles and parts/accessories

Extended Warranty**

(Doubles the original manufacturer’s warranty up to 1 full year)

When You purchase new personal items (“Insured Items”) anywhere in the world:

  1. You must charge the full cost of the Insured Items to Your PC Financial Mastercard;

  2. Insured Items must have original manufacturer’s warranty of 5 years or less valid in Canada;

  3. You must register with the insurer any Insured Items covered under an original

    manufacturer’s warranty over 5 years within the first year of purchase;



    AND

  4. during the coverage period, the Insured Items experience a mechanical breakdown, a failure or other loss covered under that original manufacturer’s warranty.

Reimbursement of the lesser of:

  1. the amount charged to Your PC Financial Mastercard; or

  2. $10,000.

It does not cover:

  • certain items such as motorized vehicles, and parts/accessories

  • used, rebuilt, or remanufactured items

** Benefits are in excess of all other applicable valid insurance, indemnity, warranty, protection and any other reimbursement plans under which You are covered. You must obtain the insurer’s approval prior to proceeding with any repair services of the Insured Items.

How can I submit a claim?

Immediately after a loss or an occurrence, which may lead to a covered claim under the Coverage, notify the insurer. You will then be sent a claim form.

Benefits will be paid upon receipt of full written proof of loss, provided notice of loss is given no later than 90 days from the date of loss and full proof of loss is delivered no later than 1 year after the date of loss. If Your claim is denied, You have 3 years to go to court.

How are the benefits paid?

The benefits are paid directly to You.

What if I have a complaint?

For information on how to have Your complaint addressed, You can call the insurer at 1-866-892-8683 or visit their website at: www.assurant.ca/customer-assistance

When does this Coverage end?

Your Coverage automatically ends when the policy is terminated, Your credit card account is cancelled or closed, Your credit privileges are suspended or revoked, or You cease to be eligible for Coverage.

Can I cancel the Coverage?

At any time, if You don’t want the Coverage, You can decide not to use it or contact Your credit card provider to get a different credit card with other insurance coverages or no insurance.

Other Details?

Complete terms and conditions of the Coverage are in the certificate of insurance available online:

Cardbenefits.assurant.com/docs/default-source/PCF/PCF_MC_WorldMC_Cert.pdf

SUMMARY

President’s Choice Bank

Insurance Coverages provided with the President’s Choice Financial® World Elite Mastercard®

  • Car Rental Collision/loss Damage Waiver Insurance

  • Purchase Assurance

  • Extended Warranty

    • This Summary Contains Important Information

    The Summary within is meant to provide an overview of the features and benefits of the insurance coverages (“Coverage”) listed above, provided with the President’s Choice Financial World Elite Mastercard (“PC Financial World Elite Mastercard”).

    INSURER

    POLICYHOLDER/DISTRIBUTOR

    American Bankers Insurance Company of Florida*

    *Carrying on business in Canada under the trade name Assurant®†

    5000 Yonge Street, Suite 2000

    Toronto, Ontario M2N 7E9

    Phone: 1-866-892-8683

    Client number of the insurer with the Autorité des marchés financiers: 2000979997

    Website of the Autorité des marchés financiers: lautorite.qc.ca

    President’s Choice Bank

    600-500 Boul. Lake Shore W.

    Toronto ON M5V2V9

    Who qualifies for this Coverage?

    The primary cardholder of a PC Financial World Elite Mastercard who is a natural person, resident of Canada.

    Who is insured under this Coverage?

    The Cardholder (“You” and “Your”). Primary Cardholder and/or any supplemental cardholder, who is also natural person, resident of Canada and to whom a PC Financial World Elite Mastercard is issued and whose name is on the card.

    In addition, for Car Rental Collision/Loss Damage Waiver insurance, any other person who holds a valid

    driver’s license and has the cardholder’s express permission to operate the rental vehicle is also insured.

    What is the cost of this Coverage?

    No additional fee will be charged for this Coverage provided with the PC Financial World Elite Mastercard.

    What is this Coverage?

    This Coverage is a group insurance product covering losses arising from sudden and unforeseeable events (please see the certificates of insurance for full details and exclusions):

     

    Eligibility

    Benefits

    Exclusions/Limitations

    Car Rental Collision/Loss Damage Insurance When You rent an eligible private passenger vehicle for a period of up to 31 consecutive days:
    1. You must  book or reserve the vehicle rental with Your PC Financial World Elite Mastercard;
    2. You must  charge the entire cost of the car rental to Your PC Financial World Elite Mastercard;
    3. You must also:
      • rent the vehicle in Your name; and
      • decline the rental agency’s collision/loss damage waiver or similar provision;
    4. during the rental period, the vehicle is damaged or stolen;

      AND
    5. You must  notify the insurer within 48 hours of the date of loss.
    		Same protection as provided by the rental agency’s collision/loss damage waiver or similar provision, up to the actual cash value of the damaged or stolen rental vehicle.

    OR

    Reimbursement up to the amount of the deductible in the rental agency coverage if rental agency is required by law to include the rental agency’s collision/loss damage waiver in the price of the vehicle rental, provided all eligibilities listed have been met.

    		It  does not cover:
    • certain types of rental vehicles such as trucks, and any vehicle over $65,000
    • any damage to tires that wasn’t caused by a collision

    Limited to 1 rental vehicle at a time.

    Purchase Assurance**

    		When You purchase new personal items (“Insured Items”):

    1. You must  charge the full cost of the Insured Items to Your PC Financial World Elite Mastercard;



      AND

    2. within 90 days of the date of purchase, the Insured Items are lost, stolen or damaged anywhere in the world.

    		The insurer may:

    1. repair, rebuild or replace the Insured Item;  or

    2. pay You the lesser of the:

      • original purchase price;

      • replacement price; or

      • repair cost.

    Maximum:
    A lifetime maximum of $50,000 per account with a maximum of $1,000 per incident

    		It  does not cover certain items such as:
    • mail order items not delivered or damaged upon delivery, traveller’s cheque and tickets
    • perishables
    • motorized vehicles and parts/accessories

    Extended Warranty**

    (Doubles the original manufacturer’s warranty up to 1 full year)

    		When You purchase new personal items (“Insured Items”) anywhere in the world:

    1. You must  charge the full cost of the Insured Items to Your PC Financial World Elite Mastercard;

    2. Insured Items must  have original manufacturer’s warranty of 5 years or less valid in Canada;

    3. You must  register with the insurer any Insured Items covered under an original manufacturer’s warranty over 5 years within the first year of purchase;



      AND

    4. during the coverage period, the Insured Items experience a mechanical breakdown, a failure or other loss covered under that original manufacturer’s warranty.

    		Reimbursement of the lesser of:

    1. the amount charged to Your PC Financial World Elite Mastercard;  or

    2. $10,000.

    		It  does not cover:
    • certain items such as motorized vehicles, and parts/accessories
    • used, rebuilt, or remanufactured items
    ** Benefits are in excess of all other applicable valid insurance, indemnity, warranty, protection and any other reimbursement plans under which You are covered. You must obtain the insurer’s approval prior to proceeding with any repair services of the Insured Items.

    How can I submit a claim?

    Immediately after a loss or an occurrence, which may lead to a covered claim under the Coverage, notify the insurer. You will then be sent a claim form.

    Benefits will be paid upon receipt of full written proof of loss, provided notice of loss is given no later than 90 days from the date of loss and full proof of loss is delivered no later than 1 year after the date of loss. If Your claim is denied, You have 3 years to go to court.

    How are the benefits paid?

    The benefits are paid directly to You.

    What if I have a complaint?

    For information on how to have Your complaint addressed, You can call the insurer at 1-866-892-8683 or visit their website at: www.assurant.ca/customer-assistance

    When does this Coverage end?

    Your Coverage automatically ends when the policy is terminated, Your credit card account is cancelled or closed, Your credit privileges are suspended or revoked, or You cease to be eligible for Coverage.

    Can I cancel the Coverage?

    At any time, if You don’t want the Coverage, You can decide not to use it or contact Your credit card provider to get a different credit card with other insurance coverages or no insurance.

    Other Details?

    Complete terms and conditions of the Coverage are in the certificates of insurance available online: Cardbenefits.assurant.com/docs/default-source/PCF/PCF_WorldElite_Cert.pdf

    SUMMARY

    President’s Choice Bank

    Insurance Coverages provided with the President’s Choice Financial® World Elite Mastercard®

    • Travel Emergency Medical Insurance

    This Summary Contains Important Information

    The Summary within is meant to provide an overview of the features and benefits of the insurance coverages (“Coverage”) listed above, provided with the President’s Choice Financial World Elite Mastercard (“PC Financial World Elite Mastercard”).

    INSURER

    POLICYHOLDER/DISTRIBUTOR

    American Bankers Life Assurance Company of Florida*

    *Carrying on business in Canada under the trade name Assurant®†

    5000 Yonge Street, Suite 2000

    Toronto, Ontario M2N 7E9

    Phone: 1-866-892-8683

    Client number of the insurer with the Autorité des marchés financiers: 2000979988

    Website of the Autorité des marchés financiers: lautorite.qc.ca

    President’s Choice Bank

    600-500 Boul. Lake Shore W.

    Toronto ON M5V 2V9

    Who qualifies for this Coverage?

    The primary cardholder of a PC Financial World Elite Mastercard who is a natural person, resident of Canada.

    Who is insured under this Coverage?

    1. Primary cardholder (“You” and “Your”); and

    2. Your spouse and dependent children when travelling with You and/or Your spouse on a trip.

    What is the cost of this Coverage?

    No additional fee will be charged for this Coverage provided with the PC Financial World Elite Mastercard.

    What is this Coverage?

    This Coverage is a group Travel and Medical Insurance to cover losses arising from sudden and unforeseeable events relating to trips outside the insured person’s province or territory of residence in Canada (please see the certificate of insurance for full details and exclusions):

     

    Eligibility

    Benefits

    Exclusions/Limitations

    Travel Emergency Medical Insurance**

    (applies only to first 10 consecutive days of a trip)

    		In the event an insured person requires unexpected emergency medical treatment during a trip, the insured person must be:

    1. a permanent resident of Canada;

    2. covered under the government health insurance plan (“GHIP”);



      AND

    3. under the age of 65 for You and Your spouse (or dependent children) at departure date.

    In addition, to be eligible, You must:

    1. maintain Your PC Financial World Elite Mastercard account in good standing;



      AND

    2. notify insurer without delay of event causing emergency medical treatment and in advance of treatment.

    Reimbursement of the reasonable and customary charges for emergency medical treatment, less any amounts covered under GHIP or any other policy or plan.

    Maximum:

    $1,000,000 per insured person

    		It  does not cover:
    • expenses for non- accidental dental care
    • pre-existing condition (see below)
    Reduced or excluded benefit if you notify the insurer after the medical treatment.
    ** Benefits are in excess of all other applicable valid insurance, indemnity, warranty, protection and any other reimbursement plans under which You are covered.

    Pre-existing Condition Exclusion

    180 days before Departure Date of a Trip | Departure Date of a Trip | Return Date of a Trip

    Pre-Existing Conditions (symptoms, treatments) | Medical Emergency resulting from Pre-Existing Conditions is not covered

    How can I submit a claim?

    Immediately after a loss or an occurrence, which may lead to a covered claim under the Coverage, notify the insurer. You will then be sent a claim form.

    Benefits will be paid upon receipt of full written proof of loss, provided notice of loss is given no later than 90 days from the date of loss and full proof of loss is delivered no later than 1 year after the date of loss. If Your claim is denied, You have 3 years to go to court.

    How are the benefits paid?

    The benefits are paid directly to You.

    What if I have a complaint?

    For information on how to have Your complaint addressed, You can call the insurer at 1-866-892-8683 or visit their website at: www.assurant.ca/customer-assistance

    When does this Coverage end?

    Your Coverage automatically ends when the policy is terminated, Your credit card account is cancelled or closed, Your credit privileges are suspended or revoked, or You cease to be eligible for Coverage.

    Can I cancel the Coverage?

    At any time, if You don’t want the Coverage, You can decide not to use it or contact Your credit card provider to get a different credit card with other insurance coverages or no insurance.

    Other Details?

    Complete terms and conditions of the Coverage are in the certificates of insurance available online:

    Cardbenefits.assurant.com/docs/default-source/PCF/PCF_WorldElite_Cert.pdf

    PCB_WorldElite_ETI-EN (12-2021)

    ®† Assurant is a registered trademark of Assurant, Inc.

    ® All trademarks are the property of their respective owners.