Keeping on top of your premiums and payments

What to do if you've fallen behind in premium payments, want to change your bank account details, or want to adjust or cancel your cover.

If you’ve missed a premium payment

If you've missed paying your premium, whatever is overdue will be added to your next payment, and will be automatically deducted from your nominated bank account at your next premium due date. You'll be sent a letter or email beforehand to let you know when this will be happening.

If there are insufficient funds in your account when we try to process this payment, you may be charged dishonour fees. You risk having your policy cancelled if you miss more than one payment, so it’s important to catch-up on missed payments as soon as possible.

Make a manual payment

If you’ve missed a premium payment and you’d prefer to make a manual payment to bring your account back up to date, you can do this in internet banking, but only for Life & Living or Home Loan Insurance policies.

Go to bill payment in internet banking and depending on which policy you’re wanting to make a payment on, select NIB NZ INSURANCE LTD - LIFE AND LIVING and NIB NZ INSURANCE LTD - HOME LOAN INSURANCE. You’ll need to include your surname in the particulars field, your first name in the code field and put your policy number as the reference.

Adjust your cover or change how you pay

If you’re finding it tough to pay your premiums, you could look at adjusting your cover to fit your budget – either reducing your level of cover or removing specific types of cover.

For house, contents, or car insurance you might also consider reviewing your excess. You can also cancel your cover whenever you want. If you have a mortgage on your house, or finance on your car, you'll probably need to keep your cover in place. Please contact us to talk through your options.

If you reduce your cover, you’ll be able to apply to increase your cover in the future, and if you cancel you’ll be able to reapply if your circumstances change. To do this you’ll have to go through an application and assessment process. With Life & Living Insurance you may find that pre-existing conditions that were previously covered will be excluded. You might also have to wait through what’s called a stand-down period before you can make a claim on your policy.

How to make changes

To make any changes to your level of cover, or how you pay your premiums, or if you'd just like to talk to someone about your options, you can call the insurance team Monday to Friday between 8.30am and 5pm on 0800 222 491.

  • For House, Contents or Car Insurance select option 1
  • For Life & Living Insurance or Home Loan Insurance, select option 2.