If an eligible person experiences a qualifying event and all the requirements for benefit activation are satisfied, Personal Account Protection will provide a debt suspension, debt cancellation, or one minimum payment credit benefit.

When benefit activation for Debt Cancellation is approved, your eligible account balance as of the date of the Qualifying Event is eliminated.

When benefit activation for Debt Suspension is approved you will not be required to make periodic payments and your account will not incur any interest charges, late fees, over the credit limit fees, or Personal Account Protection fees. All other fees will continue to post as stated in Your Cardmember Agreement and Disclosure Statement. Your account may not be used during the suspension period unless the debt suspension is activated due to: disability/hospitalization of an immediate family member, displacement from home or life events.

An eligible person means you, your joint account holder, and your spouse. Spouse means the person you are legally married to or who is recognized legally as your domestic partner. To activate benefits for your spouse, you must prove that this person is recognized as your legal partner.

Qualifying events for Personal Account Protection Elite include:
- Involuntary Unemployment
- Disability
- Leave of Absence
- Identity Theft
- Displacement from Home
- Skilled Nursing / Hospitalization
- Disability / Hospitalization of Immediate Family Member
- Divorce / Separation
- Military Reserve / National Guard
- Life Events (Marriage, Birth or Adoption of a Child, Move to a new residence or Purchase of a New Home, New Job, Retirement, Acceptance, Entry into College program, and Milestone Birthdays)
- Loss of Life

You'll receive the Personal Account Protection Elite plan for only $1.35 per $100 of your ending monthly credit card statement balance. This fee will be conveniently included on your monthly credit card statement so you don't have to worry about writing a separate check or missing a plan payment.

If your balance is zero at the end of your billing period, there is no cost for the plan coverage.

You can report a qualifying event by phone, mail or online. See the Claims page for more information.

You will be eligible for the Personal Account Protection service upon approval of your application and you are enrolled in this service.

When your benefit request is approved, you will receive letter from BFC Insurance Agency Nevada, Administrator of Personal Account Protection, advising your benefit has been approved. You may also review a claim in process by going online to: https://myclaim.hsbcusa.com. Register and follow the step by step instructions.

No. You don't get charged for requesting Claims form.

It doesn't take long to process your benefit activation request. To ensure prompt handling, we recommend you review your documentation carefully for completeness prior to mailing. Omitted information will result in a letter requesting the incomplete data.

Once we receive your completed documentation, a decision is made within 7 to 10 working days, and you will be advised of your benefit status in writing. You can also obtain status on your benefit request by visiting our website at https://myclaim.hsbcusa.com or by calling the Benefit Administrator at 1 800-598-3554.

Since this is not an Insurance program but a debt cancellation/debt suspension program you can enroll for this Personal Account Protection even if you already have insurance.