Coverage

• What is LifeSecure?
  
• LifeSecure is an optional insurance product available only for deposit or credit card accounts from Banco Popular de Puerto Rico that offers you life coverage. In the event of your death, we will pay the beneficiary you have designated up to a maximum of $40,000 depending on the benefit selected at the time of enrollment.
  Learn more by reviewing the Coverage Summary section.
  
• Who is the underwriter for this insurance?
  
• Caribbean American Life Assurance Company (CALAC) is the underwriters of this coverage. CALAC, their subsidiaries, and affiliates carry on business in Puerto Rico under the name of Assurant^®.
  
• How do I enroll?
  
• Enrolling online is easy! Visit the Enrollment Section of our website to review the product details, Then complete the online application.
  
• I am enrolled in this program – is my spouse covered too?
  
• No. This insurance coverage is limited to individual coverage.
  
• How do I know if I am eligible for LifeSecure?
  
• To be eligible, you must be at least 18 years old and less than 55 years old and be a resident of Puerto Rico. Also, you must have a deposit or credit card account from Banco Popular de Puerto Rico and pay the monthly premium with it.
  
• Are there any health questions or a medical exam required to enroll?
  
• There are no health questions or medical exams required to determine eligibility.
• How much does this insurance cost?
  
• Visit the "Cost of Coverage" section to learn more.
  
• How do I pay for LifeSecure?
  
• The monthly payment of your fixed premium will be charged to your selected Banco Popular de Puerto Rico deposit or credit card account and appear on your statement the 15th day of each month.
  
• What if I miss a premium payment?
  
• You have a grace period of 31 days after the due date for the payment of any premium. To receive insurance benefits, your premium payment must be up to date. After the 31-day grace period, your policy will be canceled, and you will not be able to receive benefits.
  
• When does coverage begin?
  
• The effective date of your insurance certificate depends on your enrollment date. If you enroll in the program between the 1st and 10th of the month, the effective date is the 1st day of the current month. If you sign up for the program between the 11th and the 30th or 31st of the month, the effective date will be the 1st day of the next month.
  
• I enrolled in LifeSecure online and was validated and received. What happens next?
  
• A welcome package containing your Certificate of Insurance and Product Summary page will be mailed to the address we have on file for you.
  
  To obtain a copy of your subscription documents, you may contact our customer service department at 1-800-981-8888 Monday through Friday from 8:00 am to 5:00 pm.
  
• Why was my application for LifeSecure denied?
  
• Your application may have been denied because you did not meet our eligibility requirements or because you already have LifeSecure coverage.
  
• Can I cancel my coverage at any time?
  
• Yes, you can cancel your coverage at any time. The Insurance Code requires that you notify us in writing your interest in canceling the policy. Please also include your full name, address, product you wish to cancel and certificate or policy number. You can send us the letter:
  • By email:

  credito@assurant.com; or

  
  
  • By mail:

  Assurant

  PO Box 195167

  San Juan, PR 00919

• How do I update my personal information (address, beneficiary, etc.)?
  
• We offer you different options so you can request to update your information securely by:
  • Sending an email to:

  credito@assurant.com; or

  
  
  • Sending a letter by mail to:

  Assurant

  PO Box 195167

  San Juan, PR 00919

  By calling 1-800-981-8888 Monday through Friday 8:00 AM to 5:00 PM (AST)

• If I am enrolled in LifeSecure, when does this coverage end?
  
• Your insurance coverage automatically ends at the earliest of the following dates:
  • The date on which the policy is terminated;
  • The date on which you turn 66;
  • The date of your death;
  • The date on which Popular closes your account, cancels your card, or withdraws your rights and privileges on your account;
  • The date on which we receive your request to cancel your insurance coverage; or
  • 10 years after enrollment in which case Assurant will send you a renewal notification. You will be eligible for renewal if at that time you’re less than 66 years old.