HDFC pulls insurance cover on Platinum Credit Cards
With more and more banks deciding to part with free insurance cover and offer free for life credit cards, HDFC has joined the list too. The bank has withdrawn its insurance cover on the platinum plus credit card as of January 1, 2008. They join a list of banks that feel offering other meaningful goodies to consumers will help them increase their customer base.
One of the hassles with insurance cover is the rules governing it, which makes it complicated for a consumer to file claims and settle it. Incase the claim takes longer or is denied for any reason, the consumer blames the credit card issuer for it. The interesting point to note is that insurance cover is still available on cards that have a joining and annual membership fee.
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http://www.simpleinsurance.co.in