Credit Protection Insurance is a scam that is solicited over the phone when you renew or activate a credit card…Cancel it if you have it…You may not know you have it- if you don’t have a balance on your credit card it doesn’t show up on your statement…When you cancel, ask for a refund for all monies you have spent on this thing…If you want to participate in a class action lawsuit against Assurant Solutions in Canada, they are the ones providing this con…

Bundling: The written portion of this insurance may arrive bundled in the mail with your new credit card…You may not see it because it looks like advertising…This is on purpose…When you speak to the rep over the phone about activating your new or renewed credit card the call gets bundled with a tough sell sales pitch for balance protection insurance…You may not be paying attention to what you say yes to because you were only calling to activate your credit card…This is also on purpose…

Voluntary Agreement: TD Canada Trust signed a voluntary agreement concerning unsolicited services, with the CBA, the Canadian Bank Association…This means that they will NOT do that negative fulfillment thing where if you Don’t cancel something, you get signed up…This is called negative fulfillment marketing…It is wrong & everybody knows it so a bunch of banks signed papers to say they wouldn’t do it…It means that if you don’t get or see the stuff in writing that is bundled with your new credit card, that you ARE signed up for balance protection insurance, (if you don’t call & cancel/you have to CALL & CANCEL within 30 days or you are stuck)…As compared to getting something in the mail that you have to SIGN & return back to confirm your agreement to something…THAT is the correct procedure…Problem is, is that TD Canada Trust TD Visa insurance policies are all actually underwritten by Assurant Solutions…Assurant Solutions handles this for RBC Royal bank of Canada as well…Assurant Solutions handles this in Canada for practically everybody actually…& Assurant Solutions Did NOT sign any agreement not to use scabrous marketing methods…

background check: So…TD Canada Trust says their balance protection insurance on credit cards is underwritten by American Bankers Life Assurance Company of Florida(ABLAC)…A simple check tells us that Assurant Solutions is the same company, but they changed the name so they could operate in Canada under disguise…(sounds bad to have the word American on a Canadian insurance product doesn’t it?)…Here are the Assurant Solutions(ABLAC), offices in Canada: (You should know that one person who questioned his RBC credit card insurance protection plan was referred directly to Assurant Solutions, & got a direct reply in letter form (snail mail) about when & how he signed up…The reply will be matter of fact & rude- they say you agreed over the phone & they sent you a certificate of insurance in writing…Class Action lawsuits about this are all over the States, & the only reason they get away with it still in Canada is because of the name change to Assurant Solutions- which is not on the TD website…But Assurant Solutions is the direct party involved with all of these insurance scams in Canada, & who will be named in a class action lawsuit, if it comes to that…)This credit protection insurance has been declared illegal in the country of England btw… Feel free to write, call or email the people below with your complaint, or name them in small claims court, or help to create a class action lawsuit…If you have been wronged, feel free to add your story to the comments section of this blog post…The more the merrier…