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IMPORTANT SEARSCHARGE CREDIT TERMS
The information below inc ludes t he costs associated with a
SearsCharge Account. It is accurate as of May 1991, but may change
after that date. To find out what may have changed write to: Sears
Telemarketing Center, 2269 Village Mall Dr., Mansfield,
copy of the entire SearsCharge agreement for you to keep, with all
terms applicable to your state of residence, will be sent to you with the
credit card(s). You need not accept the card and are not required to pay
any fee or charge disclosed unless the card is used
The annual percentage rate is 21 % unless you reside in a state
.... .. . . 21%
to $750, 18% on excess
Minnesota . .. .. . ... .... 18%
Alaska ......... ... .... 18%
.. . ... 20.04%
to $1000, 10.5% on excess
Nebraska . .. . .. . ....... 21 %
(See Variable Rate Information)
to $500, 18% on excess
No. Carolina ........... 18%
(See Variable Rate Information)
No. Dakota .
.. ... 18%
California ........ . .. . .19.2%
Pennsylvania .......... 18%
Connecticut ........... 18%
Florida ......... . . . .. . . 18%
Puerto Rico . ........ 20.4%
... .... . 18%
Rhode Island ....... .. . 18%
.. .. .. .. .. ..... 19.8%
Kansas ........... .. .. 21%
Washington ·.·.·.· .· .·.·.· .· .·.·.. 18%
to $1000. 14.4% on excess
. ......... 18%
tArkansas Residents Only) YourAnnual Percentage Rate may vary.
he rate is determined by adding 5% per annum to the Federal
Reserve Discount Rate on 90 day commercial paper in Arkansas.
(Alaska Residents Only) YourAnnual Percentage Rate may vary on
balances in excess of $1 ,000. The rate is determined by adding 5%
per annum to the rate charged member banks for advances by the
12th Federal Reserve Districtthat prevails on the 25th day ofthe
month orecedino the calendarauarter in which charges are made.
You have 30 days from your billing date to repay your balance
before being charged afinance charge .
The Average Daily Balance method (including new transactions) is
used in all states except ME. MA. MN , MT, NM , and ND where the
Average Daily Balance method (excluding new transactions) is
Aminimum monthly finance charge of 50¢ applies in all states
except AR , CT, HI , MD, NE. NC, ND. RI . VA, DC and PR.
In the statesofAL.AZ
,AR ,CA,FL,GA, IL, IN, KS,LA,MO, MS, MT,
T,VA,and WA, if lfailtomakeanyrequired min-
imum monthly payment within 1Odays after its due date.Sears may
charge and I
to pay alate pa$mentcharge. InAR ,GA,MS,NV,
NY,OK,OR ,U and WA, it will be 5.00. lnAL,AZ,CA, FL,IL, IN, KS,
LA. MO, MT, OH and VA, it will be 5% oftheamountofthe required
monthly paymentor$5.00 ($3.00 inOH),whicheverisless.
latecharae will be imoosed if itwould be less than $1 .00.
Ohio residents only: The Ohio laws against discrimination require that all creditors
make credit equally available to all creditworthy customers, and that credit reporting
agencies maintain separate credit histories on each individual upon request . The
Ohio Civil Rights Commission administers compliance with this law.
New York residents only: Aconsumer report may be ordered in connection with this
application , or subsequently in connection with the update, renewal or extension of
credit. Upon your request, you will be informed whether or not a consumer credit
report was ordered , and if 1t was, you will be given the name and address of the
consumer reporting agency that furnished the report.
Wisconsin residents only: Wisconsin law provides that no agreement, court order
or individual statement applying to marital property will affect a creditor's interests
unless prior to the time credit is granted the creditor is furnished with a copy of the
agreement, court order. or statement, or has actual knowledge of the adverse
SearsCharge Credit Protection Plan
Terms And Conditions
What isthe SearsCharge Credit Protection Plan?
SearsCharge Credit Protection Plan is avoluntary credit insurance plan that pays
your monthly minimum payment up to $500 if you become totally disabled or
involuntarily unemployed . It pays your account balance if you or your spouse dies.
The maximum benefits payable are $10,000 based on your account balance on
the date of loss. Once your enrollment has been accepted and your certificates or
policies have been issued, you'll have 30 days to examine the plan.
Who is eligible to enroll for coverage?
This coverage is available to SearsCharge Accountholders in good standing (as
determined by Sears) who are under age 66 (71 in AZ, NV, OK, and VA), gainfully
employed and actively working at least 30 hours aweek and not self-employed.
AR , CA, Ml , OR, SD,TX residents:This insurance not available on this enrollment
form . Please call 1-800-366-2286 for an appropriate enrollment form upon receipt
of your new SearsCharge card. CT, NC, NH, NY, PA residents: This insurance not
available in your state. NJ RESIDENTS: Coverage not available for SearsCharge
PLUS nor SearsCharge Home Improvement Plan Accounts.
How much does thisprotection cost?
The SearsCharge Credit Protection Plan is billed directly to your SearsCharge
Account. Monthly premium for $100 of Outstanding Account Balance: 17¢ in HI;
23¢ inAZ; 25¢ in MA;35¢ inIN, NJ, WY; 45¢ in NE, ME;48¢ in NV; 55¢ inFL, KS,
WA; 59¢ in VT; 60¢ in MD, MO, WI ; 65¢ inMN, ND, OH, RI , VA; 69¢ in IA; 70¢ in
AK, AL CO, DC, DE, GA, ID, IL, KY LA, MS, MT, NM, OK, SC, TN, UT, WV.
Information about LifeandDisability Coverages
Benefits are payable for Total Disability after a30-day waiting period and will be
retroactive to the first day of loss. Benefits are not payable for disability due to
normal pregnancyorchildbirth oran intentional self-inflicted in jury.
is the result of a Pre-Existing Condition, as defined in the Certificate, monthly
benefits will be computed based on your insured account balance6months pri
the date ofTotal Disability.Your spouse is not eligible for disabilitybenefits.AL,
KY, MD, MS, UT residents: Please refer to your Certificate for Pre-Existing Co
tion Limitations. MO residents: the maximum benefit is your account balance
on the date of total disability or death. NJ, KS residents: life coverage is not
available. NJ resident: disability coverage is not available.
Information about Involuntary UnemploymentCoverage
Benefits are payable after a30-day waiting period and will be retroactive to the first
day of loss.This insurance covers you if you are fired from your job, if you are laid
off, or if you lose your job because the company you work for has gone out of
business (termination for willful misconduct,annual or regularly scheduled layoffs
are not covered). Any other instances of enemployment are not covered. Your
spouse is not eligible for these benefits. AZ, HI, IN, MA,WY residents: Involuntary
Unemployment coverage is not available. VA residents: your monthly payment
must be in default beforeunemployment benefits can be paid. MSresidents: this
insurance is available through alicensed agent.
Information about Coverage Termination
Your SearsCharge Credit Protection Plan coverage terminates on the last day of
your monthly billing cycle when the first ofthe following occurs:your SearsCharge
Account is either terminated or 90 days past due; the Group Master Policy is
terminated ; you reach age 66 (71 in AZ, NV, OK, and VA) or if you request
cancellation by giving written notice. Credit life coverage for your spouse
terminates under the same conditions as above or when he or she reaches age
66 (71 in AZ, NV, OK and VA) or on the date of your death. Notice to terminate or
cancel shall terminate all certificates or policies issued to you in conjunction with
Coverage takes effect 15 days after Allstate receives and accepts your properly
completed enrollment form . Your effective date will be shown on the Certificate
you receive .
This program is underwritten by Allstate Insurance Company and Allstate Life
Florida Agent: C.A. Dorsey MS Agent: Steve Denham
QUESTIONS ON THIS INSURANCE?
Call toll free 1-800-366-2286 Monday - Friday 8:30 AM - 4:30 PM Central
Standard Time or write to Allstate Life Insurance Company, P.O. Box 9035, N.