Free Credit Card Balance Cover insurance repays an outstanding credit card balance in the event of death.

For Visa Classic cardholders

With free Credit Card Balance Cover your outstanding balance is automatically insured up to $1,000 in the event of your death, exclusions apply¹.

Visa cardholders, other than additional cardholders, who took out a Westpac Visa card (excluding Gold card) prior to 30 August 1999 are eligible for this cover, eligibility criteria applies¹.

For Visa Gold cardholders

With free Credit Card Balance Cover your outstanding balance is automatically insured up to $50,000 in the event of your death or total and permanent disablement, exclusions apply².

Visa Gold cardholders, other than additional cardholders, who are aged from 18 to 64 years inclusive and who took out a Westpac Visa Gold card up to and including 30 August 1999 are eligible for this cover. However, Visa Gold cardholders that are aged 65 years of age or older are eligible for the Visa Classic card cover. Eligibility criteria applies².

Cover provided

Card

Maximum cover provided

Visa Classic¹

$1,000

For cards commenced on or after 1 March 1987: Once the cardholder is age 65 the maximum amount payable reduces by $100 per year on each birthday.
Cover expires at age 75.

For cards commenced prior to 1 March 1987 no age limits apply.
Visa Gold² $50,000 

Visa Gold cardholders that are aged 65 years of age or older are eligible for the Visa Classic card cover.

With the change of your Visa card to a Mastercard® this benefit will continue on the new Mastercard®. If you choose to switch to another Westpac credit card this insurance will no longer apply.

For more information please call us on 0800 557 600.

Things you should know.

¹For Visa cardholders, other than additional cardholders, who took out a Westpac Visa Classic card (excluding Gold Card) on or after 1 March 1987 and up to and including 30 August 1999, who are aged between 18 and 74 inclusive, are eligible for this cover. Once the cardholder is age 65 the maximum amount payable reduces by $100 per year on each birthday. Cover expires at age 75. Cover is provided under Master Policy NZWP 1001.

Exclusions apply to any claim event, which arises from: War or any act of war; or outside the territorial limits of New Zealand and Australia; or from injury or sickness sustained outside the territorial limits of New Zealand and Australia (if the cardholder has been outside New Zealand for more than six months at the time the injury or sickness was first sustained).

Visa cardholders, other than additional cardholders, who took out a Westpac Visa Classic card (excluding Gold Card) prior to 1 March 1987 are eligible for this cover, no exclusions or age limits apply. Cover is provided under Master Policy NZWP 1001.

Upon the death of the eligible Cardholder, Westpac Life will pay the credit card balance, as at date of the Event, up to the maximum cover provided. The benefit is not paid to the Cardholder, Associated Cardholder, or estate.

²For Visa Gold cardholders, other than additional cardholders, who are aged from 18 to 64 years inclusive and who took out a Westpac Visa Gold card up to and including 30 August 1999 are eligible for this cover. Visa Gold cardholders that are aged 65 years of age or older are eligible for the Visa Classic card cover. Cover is provided under Master Policy NZWP 1011. 

Upon the death or total and permanent disablement (as defined by Master Policy NZWP 1011) of the eligible Cardholder, Westpac Life will pay the credit card balance, as at date of the Event, up to the maximum cover provided. The benefit is not paid to the Cardholder, Associated Cardholder, or estate. Exclusions apply to any claim event, which arises from: War or any act of war; or Any intentionally self-inflicted injury.

Total permanent disablement means either:

1. Permanent and total disablement caused by illness or injury where it is proved to the satisfaction of the Company that as a result of such disablement the Insured Person:

a. Has been prevented from engaging in his or her own occupation for a period of not less than six months, and
b. Has not during that period engaged in any income-earning occupation, and
c. Is unlikely to ever resume his or her own occupation or engage in any other occupation for which he or she is fitted by education, training or experience, or

2. The Insured Person has suffered the loss of:

a. Two limbs (“Limb” meaning in this definition a whole hand or a whole foot), or
b. The sight of both eyes, or
c. One limb and the sight of one eye.

Free Credit Card Balance Cover is arranged by Westpac New Zealand Limited (“Westpac”) and underwritten by Westpac Life-NZ-Limited (“Westpac Life”), which is a wholly owned subsidiary of Westpac Financial Services Group-NZ-Limited, which is a wholly owned subsidiary of Westpac Banking Corporation ABN 33 007 457 141, incorporated in Australia. None of Westpac Banking Corporation ABN 33 007 457 141, Westpac, or any member of the Westpac group of companies guarantee the obligations of, or any products issued by, Westpac Life.

Westpac will receive commission payments as a result of the arrangement of Westpac Life insurance policies.

Westpac Life-NZ-Limited (“Westpac Life”) has an A+ Insurer Financial Strength rating given by Standard & Poor’s (Australia) Pty Limited. A summary of the rating scale is as follows: AAA Extremely Strong, AA Very Strong, A Strong, BBB Good, BB Marginal, B Weak, CCC Very Weak, CC Extremely Weak, SD or D Default, R Regulatory Supervision, NR Not Rated. Plus (+) or Minus (-) following ratings from ‘AA’ to ‘CCC’ show relative standings within major rating categories. A full description of the rating scale is available at every office of Westpac Life or by visiting standardandpoors.com.

Terms, conditions, exclusions and limits apply and more detail can be found in the Master Policy documents NZWP 1001 and NZWP 1011. Any payment is subject to your claim being accepted.