Questions, answered
plainly.

Airlines rarely use the word "devaluation." They announce "program enhancements," "award chart updates," or changes "due to customer demand." We track actual redemption value across a basket of 20 representative routes — not what airlines say, but what your miles can actually buy. When that drops past your deductible threshold, your protection triggers.

The full methodology will be published once the product is live. In a nutshell: we look mostly at business class redemptions, sampled at fixed points in time so both low and high season are covered (e.g. Christmas, September, summer holidays) — routes like New York–Paris, Los Angeles–London, and the reverse direction too.

Valuation is based on cash-and-miles bookings, not partner-airline award redemptions. The cash component includes fees, taxes, and fuel surcharges, for example. Award availability itself isn't factored in either; the index measures price, not whether a seat happens to be bookable that day.

You're not locked into our base valuation. When you enroll, you can choose a higher valuation — up to 1.5x our base rate — if you typically find above-average deals with your miles. This only changes how much your protection is worth in dollars. It doesn't change when your protection triggers — that's always based on the index, not your chosen rate.

Some "devaluations" actually benefit certain routes while hurting others. The MP Index measures redemption value across the basket, to be fair to everyone. For example, if New York–London goes from 40,000 to 60,000 miles but the other 19 routes don't move, that alone may not push the index below your threshold. Our objective is to be fair to everyone, not react to any single route.

Weekly.

Several things are explicitly excluded:

• Point expiration
• Any event within the 30-day cooling-off period after enrollment — this exists to prevent gaming the system, e.g. enrolling right after a devaluation is already public knowledge
• Program mergers, absorptions, or restructuring — the trigger is redemption value, not corporate structure
• Fraud or account cancellation
• Accruals earned after enrollment — your notional is fixed at enrollment, so new miles you earn afterward aren't automatically covered unless you add a new contract

Protection applies specifically to devaluations in redemption value as measured by the MP Index.

Yes — this is covered. If a loyalty program operator enters bankruptcy or formal insolvency, your protection applies.

(Drop% − Deductible%) × Enrolled Notional

Example:
Enroll 1,000,000 Avios at 1.4¢/mile → Enrolled Notional = $14,000
Tier: Standard (30% deductible)
BA Avios drops 40% → Excess = 40% − 30% = 10%
Payout = 10% × $14,000 = $1,400

A single weekly reading isn't enough to confirm a trigger — we require two consecutive weekly readings (about two weeks) showing the same drop before it's confirmed. That protects against a one-off pricing glitch or temporary anomaly. Once confirmed, payout is automatic. There is no claim to file, no loss to prove, and no adjustment process — the index reading does the work.

There's no cap — we use a low-water-mark mechanic. We track the deepest confirmed index level since you enrolled, and every new confirmed low triggers a fresh incremental payout.

Example, Standard tier (30% deductible), index starts at 100:
Drops to 65 (35% down) → excess = 5% → paid
Recovers to 80 (20% down) → no clawback, prior payout stands
Drops again to 55 (45% down) → new low beyond 65 → excess = 15% → paid again

Only a fresh low beyond your previous confirmed low triggers a new payout. Recoveries are never clawed back, and the baseline stays your original enrollment value.

The fee is calculated dynamically, based on the time since a program's last devaluation and its average devaluation frequency — programs that are "overdue" carry a higher fee than ones that just devalued. Pricing may also depend on how concentrated our pool already is in that program. As a reference point: Standard tier (30% deductible) runs around 2%, Maximum (0% deductible) around 8%, and Basic around 1%.

Yes, a monthly payment plan is available. Either way, the underlying contract is still a 12-month annual commitment.

Yes, you may enroll a different notional amount than your current balance — for example, if you're actively accumulating or redeeming. This isn't intended as a speculative product, though: the idea is to protect miles you already hold or genuinely plan to hold.

Yes. Minimum enrollment is $500 notional (roughly 33,000 miles at 1.5¢/mile). Maximum is $65,000 notional per contract — you can hold several contracts, so your total across programs can be higher.

We don't check balances — we agree on a notional amount up front, and that's what your protection is based on. What we do give you is a dashboard: you can see the balances you've added, when each contract expires, what the value is, and your possible payouts.

Yes. Each program is enrolled independently and priced separately. You can mix tiers across programs — for example, Basic on one you think has a low chance of devaluing, and Standard on your most valued one — and see all of them side-by-side on your dashboard.

Transfer Partner Protection covers your card issuer permanently removing an airline or hotel as a transfer partner entirely, cutting off your ability to move points there at all — for example, Amex removing Emirates. Mile Protection covers devaluation — your points losing value once they're in a program such as United, Hilton, etc.

Amex Membership Rewards, Chase Ultimate Rewards, Citi ThankYou Points, Capital One Miles, Bilt Rewards, and Wells Fargo — all U.S.-based programs.

Yes. Bundling multiple partners under one issuer (or across issuers) unlocks a discount — the more you bundle, the more you save.

Only a full removal of the transfer-partner relationship itself — the issuer ending that partnership entirely.

It's a fixed amount.

Once the transfer-partner removal is confirmed, and you share your bank account details. If you'd rather not, we can issue a travel voucher to be redeemed with us instead.

Annual fee is fixed.

If 4 or more distinct transfer-partner relationships are cut within any 90-day window, a systemic clause applies. This has never happened in history — it's a tool to protect us from unenvisioned scenarios and make sure we can still pay out to our clients.

No. It's a parametric, innominate service contract — a private agreement. It's also non-transferable: it can't be sold, traded, or listed. There's no claim to file and no loss to prove: payout is triggered automatically by an independent index crossing a published threshold. Think of it like weather protection for a vacation — if it rains more than X, you get paid. Full stop. This makes it faster, simpler, and fully objective.

Not at all. This is a bilateral agreement between members and MileProtection. When an airline devalues its program, that's entirely their decision. Our separate contract then responds to what the independent index records.

Institutional investors back MileProtection.

MileProtection AG is a Swiss company, and this contract is governed by Swiss law.

An SPV (Special Purpose Vehicle), backed by reinsurers, ring-fenced from MileProtection's operating accounts. This protects members from counterparty risk.

MileProtection is currently invite-only. Request access via the waitlist and we'll send you a personalized protection estimate based on your programs and balances.

Contracts auto-renew annually. To cancel, just give us 30 days' notice before your renewal date.