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Credit card repayment Insurance

ANZ Credit Card Repayment Insurance can help you manage your ANZ credit card debt should something unexpected happen to you. 

What's covered?

Pays off your credit card balance up to $60,000 in the event of your death or if you're diagnosed as terminally ill.

  • Additional $2,500 contribution to help with other expenses, if you've made a purchase on your ANZ Credit Card within the previous 180 days.

Pays off your credit card balance up to $60,000 if you suffer from one of four specified critical illnesses (Cancer, Heart Attack, Coronary Artery Bypass Surgery or Stroke).

If you're in employment or self-employment for 15 hours or more per week and become permanently disabled, your credit card balance will be paid off up to $60,000. 

Cover to help with your monthly credit card repayments if you're unable to work in employment or self-employment for 15 hours or more per week, are unable to carry out at least one of the specified activities of daily living without physical assistance from another adult, or are confined to hospital or bed at home, for more than 14 days due to an accident or illness.

  • Monthly payment of 25% of your credit card balance while you remain temporarily disabled up to a maximum of 20 months or until you turn 65.
  • Cover up to $60,000.

Cover to help with your monthly credit card repayments if you're employed for 15 hours or more per week for at least 90 days, are made redundant and remain unemployed for more than 14 consecutive days.

  • Monthly payment of 25% of your credit card balance while you remain unemployed or until you turn 65.
  • Cover up to the lesser of your credit card balance or $60,000.

If you're self-employed for 15 hours or more per week and are declared involuntarily bankrupt after 180 days from the start date of your policy, your credit card balance will be paid off up to $60,000.

Pre-existing conditions

For the first 12 months of your policy you'll not be covered for any pre-existing illness, injury or condition you have or had in the 12 months before the Policy Commencement Date.

Claim payments

Your cover is based on the greater of your outstanding credit card account balance at the time of your claim event or the average closing account balance for the previous six months.

The maximum benefit under the insurance for the same, a similar or a related cause is $60,000.

Eligibility and expiry

  • As an ANZ personal credit cardholder you have guaranteed acceptance for this cover if you're aged 18 to 75 years.
  • Cover for critical illness, permanent disability, temporary disability, redundancy and bankruptcy benefits expires on your 65th birthday.
  • For cardholders aged 65 and up to 99 years, cover is limited to death and terminal illness only.
  • All cover ends at age 99.

Costs

  • Premium of 79 cents for every $100 (and proportionately for every part $100) of your monthly credit card account balance.
  • Premium of $1.29 per $100 (and proportionately for every part $100) where a joint or additional cardholder is also covered.
  • If your monthly account statement balance is zero or in credit, no premium is charged.

Our insurer's financial strength rating

These policies are underwritten by Cigna Life Insurance New Zealand Limited. Cigna has been given an A (Excellent) insurer financial strength rating by A.M. Best Company Inc.

  

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ANZ Credit Card Repayment Insurance is underwritten by Cigna Life Insurance New Zealand Limited (Cigna). No member of ANZ or its related companies guarantees Cigna, its subsidiaries or any of the products issued by it. ANZ receives a commission from Cigna on any policy arranged through ANZ.

The above information is a summary only of the cover and features that may be available. For full details of the terms, conditions, limits, exclusions and definitions, please refer to the policy document ANZ Credit Card Repayment Insurance Policy Document (PDF 165kB) or call 0800 883 012.