Kiwibank.
Credit card repayment insurance
Accidents and illness do happen. Credit card repayment insurance means that if the unexpected happens, you won't have to worry about the outstanding balance on your card.
We've changed how we do things! If you already have credit card repayment insurance and your cover started before April 10, 2011, your policy and claim process is different. Find out more
Benefits
We'll cover the outstanding balance on your insured Kiwibank Credit Card (up to $30,000) if you:
- suffer illness or accidental injury
- become permanently disabled
- are made redundant
- are self-employed and declared bankrupt
If you die, we'll pay the total outstanding balance on your card, up to $40,000.
You only pay for the protection you need - if your balance is zero on your monthly statement date, you pay nothing that month.
If you have a joint account, your partner is automatically covered for free.
| How it works | Show |
|---|---|
| If you suffer... | We'll pay... |
| Sickness or accidental injury causing temporary disablement |
15% of the outstanding balance on your insured card, paid monthly for up to 18 months, up to a maximum of $30,000 |
| Permanent disablement |
The total outstanding balance on your insured card, up to a maximum of $30,000 |
| Critical illness |
The total outstanding balance on your insured card, up to a maximum of $30,000 |
| Redundancy |
15% of the outstanding balance on your insured card, up to a maximum of $30,000, paid monthly until you return to work or your balance is paid – whichever happens first |
|
Bankruptcy (if you're self employed) |
The total outstanding balance on your insured card, up to a maximum of $30,000 |
| Death |
The total outstanding balance on your insured card, up to a maximum of $40,000 |
| Please note: The amount paid is based on the outstanding balance on your insured card on the date you suffer the unexpected event. | |
How much will it cost?
How much you'll pay depends on how much you owe. You'll pay 75 cents a month for every $100 (or part thereof) of outstanding balance on your card. If you owe $1,200 on your monthly statement date, your repayment insurance will cost you $9 for that month. If your balance is zero, you won't pay anything for that month.
If you have a joint card, your partner is covered too - at no extra cost.
Your premiums are charged to your credit card each month - there's no need to set up any extra payments.
Eligibility
You can get cover without any medical tests if you:
- the primary or joint cardholder of a Kiwibank Credit Card
- aged between 18 and 65.
Your cover for all benefits continues until you turn 65, except for death cover which ends at 75.
Please note that any pre-existing medical conditions won't be covered, and some limitations and exclusions apply - for example, cardholders who aren't working, or who work less than 25 hours a week, are only covered for the critical illness and death benefits.
See the full terms and conditions in the 
credit card repayment insurance policy (PDF 717 KB).
Apply now
Fill in the insurance section when you apply for a Kiwibank Credit Card online.
If you already have a Kiwibank Credit Card, call us on 0800 222 491 (8:30am to 5pm Monday to Friday) and we can arrange cover over the phone.
You'll have 30 days to consider the policy. If you decide it isn't right for you, you can cancel it and any premiums you've paid will be refunded.
Make a claim
To make a claim, call us on 0800 222 491 between 8:30am and 5pm, Monday to Friday, or download a claim form (PDF 274 KB).
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Conditions
On this page of the website, "we", "us" and "our" mean Kiwi Insurance Limited.
Important terms, conditions and exclusions are set out in the credit card repayment insurance policy (PDF 717 KB) wording. Credit card repayment insurance is arranged by Kiwibank Limited and provided to you by Kiwi Insurance Limited. Kiwibank Limited may receive a commission on any policy it arranges. Kiwi Insurance Limited is solely responsible for any claims under the insurance policy. Kiwibank Limited does not guarantee the obligations of, or any products issued by, Kiwi Insurance Limited. Kiwi Insurance Limited has elected not to have a rating in accordance with the Insurance Companies (Ratings & Inspections) Act 1994 and is not required to have a rating.
Credit card repayment insurance before April 10, 2011
If you already have Kiwibank Credit Card Repayment Insurance and your cover started before 10 April 2011, your cover is provided to you by CIGNA Life Insurance New Zealand Limited.
To make a claim, call CIGNA on 0800 154 805.
CIGNA Life Insurance New Zealand Limited is solely responsible for any claims under the insurance policy. Kiwibank Limited does not guarantee the obligations of, or any products issued by CIGNA Life Insurance New Zealand Limited.
Important terms, conditions and exclusions are set out in the Kiwibank Credit Card Repayment Insurance (issued before 10 April 2011) policy (PDF 225 KB) wording.