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Guide to Protection Benefits

This Guide to Protection Benefits (“Guide”) includes important details about the benefits that come with the Covered Card. The benefits, as described in this Guide, are effective on or after the effective date of this Guide and replaces any other program description received earlier.

Key Terms

Account means the Greenlight Max service account, established by the Primary Accountholder, through which the Greenlight Max services are provided.

Cardholder means the person who has received the Covered Card at the request of the Primary Accountholder.

Covered Card means the Greenlight Prepaid Mastercard issued to the Cardholder.

Primary Accountholder means the individual that opens the Account and is responsible for managing the Covered Cards on the Account.

We, Us or Our means the insurance comp any or administrator that provides these benefits for the Covered Card.

You and Your means the Cardholder and Primary Accountholder.

Portable Device Protection

What is Covered

We will provide coverage for the repair or replacement of the Portable Device in the event there is a Breakdown or it is Damaged or Stolen or lost.  

Coverage is not available to residents of the state of New York.

How to Get Coverage:

To be eligible for coverage, the following must occur:

  • The Account must be active; and
  • The Cardholder must download the mobile application associated with the Account on the covered Portable Device.

Length of Coverage:

Coverage starts the first day of the calendar month following the Account being activated and the download  of the mobile application by the Cardholder. If the Account lapses, terminates or is suspended, coverage changes as follows:

  • Coverage is suspended beginning the first day of the calendar month following the month the lapsing, termination or suspension of the Account; and
  • Coverage resumes on the first day of the calendar month following the date of any future reactivation of the Account.

Deductible:

$25.00 per claim

Coverage Limits:

Coverage is limited to the lesser of the following:

  • The cost to repair the Portable Device, less the deductible.
  • The cost to replace the Portable Device with similar features and functionality at the current market value at time of loss, less the deductible.
  • $600.00 per claim and a maximum of two (2) claims per calendar year per Covered Card.
  • $1,000.00 per calendar year per Covered Card.

Coverage is supplemental to and excess of valid and collectible insurance or indemnity (including, but not limited to, cellular wireless telephone insurance programs, homeowner’s, renter’s, automobile, or employer’s insurance policies). After all insurance or indemnity has been exhausted, We will provide coverage subject to the terms, conditions, exclusions, and coverage limits of this benefit.

Breakdown means a mechanical or electrical failure of the Portable Device to perform its fundamental operations in normal service.

Damage means the Portable Device can no longer perform their function(s) as they were intended to do in normal service due to broken parts, material or structural failures.

Due Diligence means the performance of activities, attentiveness, care, and diligence that would be taken by a reasonable and prudent person in the same or similar circumstances in order to protect against the Theft of the Portable Device.

Portable Device means a cellular telephone of the Cardholder.

Stolen or Theft means the Portable Device were taken by force and/or under duress or the disappearance of the Portable Device from a known place under circumstances that would indicate the probability of Theft.

What is NOT Covered
  • Any Portable Device purchased for resale, professional or commercial use.
  • Cosmetic damage and scratches that do not impact the Portable Device’s ability to function as intended. Cracks on the screen will be covered.
  • Any Portable Device accessories other than the original equipment that came in the original Portable Device packaging.
  • A loss when a Portable Device is under the care, custody, and control of another party or common carrier (including, but not limited to, airlines, the U.S. Postal Service, UPS, FedEx, or other delivery services).
  • A loss due to fraud, abuse, gradual deterioration with no mechanical failure, vermin, inherent product defects, product recalls, war (whether it be declared or not) or hostilities of any kind (including but not limited to, invasion, rebellion or insurrection, radioactive contamination, or risks of contraband).
  • A loss resulting from confiscation by any government, public authority or customs official.
  • An Act of God (including but not limited to, flood, hurricane or earthquake), or consequential losses resulting from any Act of God.
  • A Fraudulent act(s) committed or arranged by Cardholder or Primary Accountholder.
  • A loss arising from illegal activity or acts. 
  • A loss due to misdelivery or voluntary parting with the Portable Device.
  • Taxes, delivery & transportation charges and any fees associated with the Portable Device service provider.
  • Consequential or incidental damages.
  • The loss or corruption of data and applications.
How to File a Claim

To file a claim, visit https://greenlight.cardbenefitclaims.com or call 1-866-599-1386. We will advise what documentation is needed to support the claim. The claim must be reported within 60 days of loss or the claim may not be honored.

The Primary Accountholder will be asked to provide documentation to substantiate the claim, documentation must be submitted within 180 days of the date the claim is reported. The Primary Accountholder may be reimbursed for the cost to repair or replace the Portable Device based on the Coverage Limits.

Purchase Protection – Damage & Theft

What is Covered
We will provide coverage for the repair or replacement of an item purchased with the Covered Card in the event the item is damaged or stolen.

How to Get Coverage:

To be eligible for coverage, the item must be paid for in full with the Covered Card.

Length of Coverage:

Within 120 days of purchase or delivery of the item, whichever is first.

Coverage Limits:

Coverage is limited to the lesser of the following:

  • $100.00 per item.
  • The amount charged to the Covered Card.
  • $1,000.00 per calendar year per Covered Card.

Incident means the event /or occurrence when the item(s) was damaged or stolen.

Coverage is supplemental to and excess of valid and collectible insurance or indemnity (including, but not limited to, homeowner’s, renter’s, automobile, or employer’s insurance policies). After all insurance or indemnity has been exhausted, We will provide coverage subject to the terms, conditions, exclusions, and coverage limits of this benefit.

What is NOT Covered

Coverage does not apply to the following items:

  • Boats, cars, aircraft, or any other motorized land, air or water vehicles and their equipment, motors, and accessories. Tires are not covered.
  • Items that can spoil or are consumable and need to be replaced after they have been used for period of time such as food, fuel, batteries, medications, beauty products or personal care products.
  • Watches or jewelry including loose gems, precious stones, metals and pearls.
  • Tickets or services of any kind (e.g., for airlines, sporting events, outdoor recreation, tours, concerts or lottery).
  • Collectable items; including but not limited to, antiques, coins, art, sports memorabilia or stamps.
  • Items purchased for resale, professional or commercial use.
  • Plants or animals, including stuffed or mounted animals or fish.
  • Land, any buildings (including, but not limited, to homes and dwellings), permanently installed items, fixtures, structures, or home improvement.
  • Cash (including rare or precious coins), gift cards, checks, promissory notes or any other financial document that represents money.
  • Firearms, weapons or ammunition.

Coverage doesn’t apply under these specific circumstances:

  • The item was not reasonably cared for to prevent a loss.
  • The item is used in a way that goes against or is inconsistent with the manufacturer’s instructions or warnings, or is altered from its designed purpose.
  • The item is damaged because of a product defect or experiences normal wear and tear where no failure has occurred.
  • The item is damaged because of an act of God (including but not limited to, flood, hurricane or earthquake), or suffers consequential losses resulting from any Act of God.
  • The item was under the care and control of another party or common carrier (including, but not limited to, airlines, the U.S. Postal Service, UPS, FedEx, or other delivery services).

Coverage doesn’t apply to the following related charges:

  • Shipping, handling or taxes.
  • Services, such as product installation or repairs.
How to File a Claim

Please keep the damaged item, We may request it be provided. For stolen items, a police report will be required.

To file a claim, visit https://greenlight.cardbenefitclaims.com or call 1-866-599-1386. We will advise what documentation is needed to support the claim. The claim should be reported as soon as possible after the Incident.

The Primary Accountholder will be asked to provide documentation to substantiate the claim, documentation must be submitted within 60 days of the date of the Incident. We will notify the Primary Accountholder of Our decision once the claim has been processed. The Primary Accountholder may be reimbursed for the cost to repair or replace the item based on the Coverage Limits.

Additional Terms

This Guide is not, by itself, a policy or contract of insurance or other contract. The information in this section applies to all insurance benefits described in this Guide.

Benefits are purchased and provided complimentary to You as a feature of the Account.

Portable Device Protection and Purchase Protection-Damage & Theft coverage (“Description of Coverage” or “DOC”) is provided under a Group Policy of insurance issued by Virginia Surety Company, Inc. (“VSC”) The DOCs in this Guide are intended as a summary of benefits provided to You. The attached Key Terms, DOCs and all the information about the insurance benefits listed in these Additional Terms is governed by the conditions, limitations, and exclusions of the Group Policy.

Privacy Notice:

As the provider of the benefits described herein, Virginia Surety Company, Inc. collects personal information about You from the following sources: information the provider gathers from You, from Your request for benefits or other forms You furnish to the provider, such as Your name, address, telephone number, and information about Your transactions with the provider such as claims made and benefits paid. The provider may disclose all information it collects, as described above, to its affiliates, subsidiaries and partners, as well as to non-affiliated third parties that perform administrative or other services on our behalf solely in connection with the benefits You have received. By providing this information to the provider, You agree that the provider may use Your information in accordance with this Privacy Notice, such as to provide benefits entitled to You, and to meet regulatory and contractual requirements relating to the benefits provided to You. The provider uses commercially reasonable physical, electronic, and procedural safeguards that comply with federal regulations to maintain the confidentiality of Your personal information. The provider takes appropriate technical and organizational measures to protect Your personal information from accidental or unlawful destruction, accidental loss, and unauthorized alteration, disclosure, or access. The provider does not disclose any personal information about former beneficiaries to anyone, except as required by law. The provider restricts access to personal information about You to those authorized individuals or third parties who reasonably need to know that information in order to provide benefits to You.

Should You have any questions about the procedures or the information contained within Your file, please contact the provider by writing to:

Virginia Surety Company, Inc.

The Assurant Privacy Office

Post Office Box 979047, Miami, FL 33197-9047

Effective date of benefits:

Effective January 1, 2021, this Guide replaces all prior disclosures, program descriptions, advertising, and brochures by any party. We reserve the right to change the benefits and features of these programs at anytime.

Cancellation:

This benefit can be cancelled at any time or non-renewed for You. In the event benefit is cancelled or non-renewed, You may be notified as required by law. Coverage will still apply for the benefit prior to the date of such cancellation or non-renewal, subject to the terms and conditions of coverage. The provider of this benefit shall not be required to give notice if substantially similar coverage has been obtained from another provider without a lapse of coverage.

Benefits to You:

This benefit applies to Covered Cards issued in the United States by Community Federal Savings Bank and Atlantic Capital Bank. The United States is defined as the 50 United States and the District of Columbia. No person or entity other than You shall have any legal or equitable right, remedy, or claim for benefits, insurance proceeds and damages under or arising out of these programs. This benefit does not apply if Your card privileges have been cancelled. However, benefits will still apply prior to the date that Your account is suspended or cancelled, subject to the terms and conditions of coverage.

Transfer of rights or benefits:

No rights or benefits provided under this benefit may be assigned without the prior written consent of the claim administrator for these benefits.

Illegal Activity, Misrepresentation and Fraud:

Benefit shall be void if You or any covered person has been involved in any illegal activity or concealed or misrepresented any material facts concerning these benefits. If providing benefit would violate United States economic or trade sanctions, the coverage will be void.

Dispute Resolution-Arbitration (not applicable to NY Residents):

Read The Following Arbitration Provision (this “Arbitration Provision”) Carefully.  It Limits Certain Of Your Rights, Including Your Right To A Jury Trial And To Obtain Redress Through Courts.

Any and all claims, disputes, or controversies of any nature whatsoever (whether in contract, tort or otherwise), including statutory, common law, fraud (whether by misrepresentation or by omission) or other intentional tort, property, or equitable claims) arising out of, relating to, or in connection with (1) this DOC, or (2) the validity, scope, interpretation, or enforceability of this Arbitration Provision or of the entire DOC (“Claim”), shall be resolved by binding arbitration before a single arbitrator. Unless You and VSC mutually agree on an alternative, the arbitration will take place in the county and state where You live. All arbitrations shall be administered by the American Arbitration Association (“AAA”) in accordance with its Expedited Procedures of the Commercial Arbitration Rules of the AAA in effect at the time the Claim is filed. The terms of this Arbitration Provision shall control any inconsistency between the AAA’s Rules and this Arbitration Provision. You may obtain a copy of the AAA’s Rules by calling (800) 778-7879. Upon written request VSC will advance to You either all or part of the fees of the AAA and of the arbitrator after You have been unsuccessful in obtaining a waiver of fees and costs from the AAA. The arbitrator will decide whether You or VSC will be responsible for these fees. The arbitrator shall apply relevant substantive federal and state law and applicable statutes of limitations and shall provide written, reasoned findings of fact and conclusions of law. This Arbitration Provision is part of a transaction involving interstate commerce and shall be governed by the Federal Arbitration Act, 9 U.S.C. § 1 et seq. If any portion of this Arbitration Provision is deemed invalid or unenforceable, it shall not invalidate the remaining portions of this Arbitration Provision, except that in no event shall this Arbitration Provision be amended or construed to permit arbitration on behalf of a group or class. For the purpose of this Arbitration Provision, “VSC” shall be deemed to include Virginia Surety Company, Inc. and all of its affiliates, successors and assigns, their respective principals, partners, officers and directors and all of the dealers, licensees, agents, and employees of any of the foregoing entities. This Arbitration Provision shall inure to the benefit of and be binding on You and each of the aforementioned persons and entities. This Arbitration Provision shall continue in full force and effect subsequent to and notwithstanding the expiration or termination of the Group Policy.

No Class Actions/No Joinder of Parties:You agree that any arbitration proceeding will only consider Your Claims. Claims by, or on behalf of, other individuals will not be arbitrated in any proceeding that is considering Your Claims. You also agree that You will not join with others to bring Claims in the same arbitration proceeding.

YOU AND VSC UNDERSTAND AND AGREE THAT BECAUSE OF THIS ARBITRATION PROVISION NEITHER YOU NOR VSC WILL HAVE THE RIGHT TO GO TO COURT EXCEPT AS PROVIDED ABOVE OR TO HAVE A JURY TRIAL OR TO PARTICIPATE AS ANY MEMBER OF A CLASS OF CLAIMANTS PERTAINING TO ANY CLAIM.

Due Diligence: All parties are expected to exercise due diligence to avoid or diminish any theft, loss or damage to the property insured under these programs. “Due diligence” means the performance of all vigilant activity, attentiveness, and care that would be taken by a reasonable and prudent person in the same or similar circumstances in order to guard and protect the item.

Subrogation: If payment is made under this benefit, the provider is entitled to recover such amounts from other parties or persons. Any party who receives payment under this benefit must transfer to the provider his or her rights to recovery against any other party or person and must do everything necessary to secure these rights and must do nothing that would jeopardize them, or these rights will be recovered by You.

Salvage: If an item is not repairable, the administrator may request You send the item to the administrator for salvage at Your expense. Failure to remit the requested item for salvage to the claim administrator may result in denial of the claim.

Secondary Insurance. Coverage is secondary to any other applicable insurance or indemnity available to You unless indicated within the Guide. Coverage is limited to only those amounts not covered by any other insurance or indemnity. It is subject to the conditions, limitations, and exclusions described in this Guide. In no event will insurance benefits apply as contributing insurance. The non-contribution insurance clause will take precedence over the non-contribution clause found in any other insurance policies.

Conformity of Statute: If benefit coverage does not conform to applicable provisions of State or Federal law, the benefit coverage is hereby amended Benefits listed in this Guide are subject to the conditions, limitations, and exclusions described in each benefit section. Receipt and/or possession of this Guide does not guarantee coverage or coverage availability.

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© 2021 Greenlight Investment Advisors, LLC (GIA), an SEC Registered Investment Advisor provides investment advisory services to its clients. Investing involves risk and may include the loss of capital.

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