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Will You Pay Extra for Credit Shield?
#11
If you can afford it why not there's nothing wrong paying for extra credit shield especially if it's for your own benefit. We can't tell what might happen in the future so we must be ready and prepared financially in case something happens in our health.
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#12
Protection: It may also protect you against loss of employment, or provide cash benefits if you have to go into hospital.
Check you’ve not been charged: You will typically be asked if you want this cover when you take out your card. It should not automatically be charged – but check your statement, just in case.
Need it? If you only run a small balance, or have plenty of savings to clear your debt if you fall ill, you don’t need to pay extra for this cover.
Pre-set limits: Although issuers claim it will clear your outstanding balance, this is typically only up to pre-set limits. For example, HSBC Credit Shield Plus will cover your balance up to a maximum of AED 200,000 in the event of death or permanent total disability. Mashreq offers death and disability cover to a maximum AED 50,000, loss of employment cover to AED 48,000 and hospital cover to AED 12,000.
The cost also differs according to the bank (see table). Terms vary, so cheapest isn’t always best. Check your card issuer’s website to find out how much your card charges.

It still your choice
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