Equitas Credit Card Insurance Benefits Removed
Equitas Bank has announced changes to the insurance benefits offered on its credit cards. From 1 April 2026, a few complimentary insurance covers that were previously bundled with the card will no longer be available.
At first, this may sound like a big loss of benefits. But in reality, these insurance covers were rarely useful for most cardholders and were also very difficult to claim in real situations. So the impact of this change is likely to be very small for most users.
What Exactly Has Changed
Equitas has confirmed that three complimentary insurance covers will be discontinued across its credit card portfolio from 1 April 2026:
Air Accident Death Cover
Personal Accident Death Cover
Credit Shield Insurance
These benefits were provided as complimentary add-ons with the card and did not require a separate premium from the cardholder.
Apart from this removal, no other card features are being changed. Rewards, fees, charges, credit card points structure and other card benefits remain exactly the same.
What Do These Insurance Covers Actually Mean?
Many credit cards advertise insurance protection as an additional perk. While the idea sounds attractive, these covers are usually designed for very specific scenarios and often come with multiple eligibility conditions.
Air Accident Death Cover
This insurance provided compensation to the nominee if a cardholder passed away due to an air travel accident. However, the coverage usually required that the ticket be purchased using the same credit card and that several other eligibility conditions be met.
In reality, such incidents are extremely rare and most travellers are already covered through travel insurance or airline protection.
Personal Accident Death Cover
This benefit provided compensation in case the cardholder died due to an accident. However, these policies usually come with strict claim conditions, detailed documentation requirements and specific definitions of accidents.
Because of these strict claim conditions, the real-world usability of these policies has always been very limited.
Credit Shield Insurance
Credit Shield Insurance was meant to cover the outstanding credit card dues if the cardholder passed away, became permanently disabled or faced situations like critical illness or job loss.
While the idea sounds helpful, these policies typically have limited applicability and complicated claim procedures. Many users prefer relying on standalone insurance policies instead, which offer clearer coverage and smoother claims.
Why This Change Is Not a Major Loss
Although removing insurance benefits may appear like a devaluation, these bundled covers were often difficult to claim and had limited practical value. Most users already rely on separate financial products such as term insurance, accident insurance, or employer-provided coverage, which offer far better protection.
For the majority of cardholders, this update simply removes a rarely used feature while leaving the core credit card rewards, fees and card functionality unchanged. In other words, the everyday value of Equitas credit cards remains largely unaffected by this change.
But Other Credit Cards are Undergoing Major Devaluations and Changes
Here is the list of credit cards which have announced devaluations and upgrades recently.
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