General Insurance/Takaful

Transactional Insurance/Takaful

Transactional Insurance/Takaful

“Transactional Insurance/Takaful” is a general Insurance/Takaful product which ensures security of your digital financial transactions against fraud risk.

SCOPE OF COVERAGES
Account Takeover	Means a third party gains unauthorised access to your e-money account and then makes unauthorised transactions. Account takeovers usually result from phishing, spyware, or malware scams.
Unauthorized Transaction	Means transactions that are carried out on your payment cards, electronic transactions including e-money accounts made via the internet, telephone, or television. In the event that your card is skimmed or cloned at the point of sale or ATMs, we will reimburse you for the unauthorised transactions for which you are not indemnified by the issuer.
Social Engineering	Refers to a scam that deceives you into opening or responding to emails, text messages, phone calls, and websites that seem to be from legitimate entities or individuals whom you trust and/or recognise, with the aim of persuading you to transfer funds. Examples of such scams include but are not limited to: Phishing (emails); Smishing (text messages); Vishing (fraudulent pre-recorded messages); Spoofing (impersonation phone calls).
ATM Theft	Cover in the event of ATM theft, where you are compelled, through threat or physical violence, to make a cash withdrawal from an ATM or a cash-out agent location. • you suffer aggravated theft and/or robbery of cash whilst withdrawing cash from an ATM or a cash-out agent at the same time as the withdrawal or within 2 hours of the withdrawal.

Period of Insurance/Takaful is 12 Months from the date to be advised and agreed.

Plan (PKR)			Benefit/Net contribution Amount (PKR)
Per Transaction Limit		Maximum Limit of loss per Annual	-Account Takeover	-Account Takeover
			-Unauthorized Transactions	-Unauthorized Transactions
			-Social Engineering	-Social Engineering
				-ATM Theft
Option 1	100,000	200,000	2,060	2,675
Option 2	50,000	100,000	1,065	1,310
Option 3	25,000	50,000	655	775

General Exclusions:

These exclusions apply to all coverages on this policy. We do not provide cover for:

Any incident prior to the start date of your insurance policy or after the cancellation.
The first amount of every successful claim (the excess), wherever applicable.
any losses which are recoverable from any other source such as but not limited to your bank, your payment Card provider or third-party payment platforms.
any loss before or after the incident, if you have wilfully concealed or misrepresented any material fact or Circumstance concerning this insurance or provided fraudulent information to us.
any loss resulting from war, invasion, act of foreign enemy hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power, nationalization, confiscation, requisition, Seizure or destruction by the government or any public authority.
Any loss resulting from gambling, lottery, contest, promotional game, or other games of chance.
Any loss resulting from illegal activity engaged in by you whether knowingly or unknowingly.
Any loss resulting from a potential mass cyber-attack.

Disclaimer

The contents of this webpage are for general information only and not not constitute an offer, recommendation or solicitation of an offer to enter into a transaction or adopt any hedging, trading or investment strategy, nor does it constitute any prediction of likely future movements in rates or prices or any representation that any such future movements will not exceed those shown in any illustration.

It has not been prepared for any particular person or class of persons and it has been prepared without regards to the specific investment objectives, financial situation or particular needs of any person. You should seek advice from a financial adviser on the suitability of the product for you, taking into account these factors before making a commitment to purchase the product. In the event that you choose not to seek advice from a licensed or an exempt financial adviser, you should carefully consider whether this product is suitable for you.

Call our Client Centre at 111 002 002 for any further questions or service queries. You are advised not to send any confidential and/or important information to the Bank via e-mail, as the Bank makes no representations or warranties as to the security or accuracy of any information transmitted. The Bank shall not be responsible for any loss or damage suffered by you arising from your decision to use e-mail to communicate with the Bank. It is essential that prior to taking into consideration any information on this site, you have read and understood this important Legal Notice.

This information attributable to Standard Chartered Bank (Pakistan) Limited having its registered office at PO Box 5556, I.I Chundrigar Road Karachi, which is a banking company registered with State Bank of Pakistan under Banking Companies Ordinance 1962.

Standard Chartered Bank (Pakistan) limited is only a ‘Distributer’ of these products and does not offer Takaful / Insurance advice, nor does it underwrite or issue Takaful / Insurance policies. Takaful / Insurance products are underwritten by third party Takaful / Insurance Operator. An early termination of the policy usually involves surrender charges as mentioned in the product documentation. In some instances of surrender, the returns you may receive could be less than the Contribution you have contributed or a potential loss in your principal amount. Standard Chartered Bank (Pakistan) Limited shall not be responsible for Takaful / Insurance Operator’s actions or decisions, nor shall be liable regarding payment of claims or services under the participant membership document or in any manner whatsoever regarding your application or the contract of Takaful / Insurance. This webpage is for general information only and it does not constitute an offer, recommendation and/or solicitation to enter into any transaction.

Disclaimer

This is to inform that by clicking on the hyperlink, you will be leaving www.sc.com/pk and entering a website operated by other parties:

Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.

The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.

Thank you for visiting www.sc.com/pk

PROCEED