Credit card protection

Card Repayment Cover can help protect your credit card repayments if something serious happens to you. 

How Card Repayment Cover works

Card Repayment Cover is Westpac's credit card insurance to help you make your repayments if something serious happens to you. It's optional protection that you can add to both new or existing Westpac credit cards.

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If you’re diagnosed with a crisis condition

Card Repayment Cover could pay your outstanding card balance, up to a maximum of $30,000, if you're diagnosed with a defined crisis condition, including suffering from cancer, a heart attack, or stroke. 

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If you’re unable to work because of disability

Card Repayment Cover could pay 15% of your monthly balance if you’re totally disabled due to illness or injury, until you return to work (up to $50,000 in total). Payments can start after 30 days for up to 18 months. 

 Financial Burden  
If you’re unable to ever work again because of a total and permanent disability

Card Repayment Cover could pay out 2.7 times your card balance as a lump sum to clear your credit card debt (up to $50,000 in total). 

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If you’re made involuntarily redundant

Card Repayment Cover could pay 15% of your monthly balance (up to $50,000 in total) if you are made involuntarily redundant. Payments can start after 30 days of unemployment for up to nine months.

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If you’re self-employed and made bankrupt

Card Repayment Cover could pay up to $30,000 off your card balance, if you’re self-employed and made bankrupt. Cover must have been in place for at least six months.

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If you die or are diagnosed as terminally ill with less than 12 months to live

Card Repayment Cover could pay out up to $50,000 as a lump sum to clear or reduce your credit card debt.

Who can be covered by Card Repayment Cover?

If you’re 18-65 years, you can be fully covered, and if you’re 66-79 years, cover is available but only for death or terminal illness. 


More reasons to choose Card Repayment Cover

Costs less than $1 a month for every $100 on your card

Card Repayment Cover costs 74 cents a month for every $100 of your outstanding credit card balance. For example, if your closing balance was $1,000, your cost would be $7.40 for that month. 

Your premium goes on the card

Any premium owing is charged directly to your credit card. This can make life easy, but do remember you may also be charged interest.

No extra charge for joint cardholders

If you’ve a joint or additional cardholder, they can also be covered for no additional charge.

No medical information required

There are no medical questions to answer when you apply. Acceptance is automatic. However you will not be covered for any pre-existing medical conditions.


Get Credit Card Repayment Cover with a 30 day-free look


Call for a quote


With our 30-day free look, if you decide the cover is not for you during the free look period, just notify us and we’ll refund any premiums you’ve paid.


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Westpac Card Repayment Cover is arranged by Westpac New Zealand Limited (“Westpac NZ”) 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 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. For Westpac Life’s solvency margin please click here. For Westpac Life's financial strength rating please click here.

Terms, conditions, exclusions and limits apply to Westpac Card Repayment Cover. A policy document may be downloaded here as a pdf or obtained from any Westpac branch free of charge. The availability of any insurance cover is subject to the receipt of a completed application.

Any payment is subject to your claim being accepted.

Important things to know

What's not covered

Westpac card repayment cover will not pay out in certain circumstances. Please see the lists below:

Death

No benefit will be paid for death arising from:

  • suicide within 13 months of commencement;
  • any injury, sickness or disease which existed at the commencement date, whether diagnosed or not;
  • where the exclusions listed under "All Covers" below apply.
Terminal Illness

No benefit will be paid for terminal illness arising from: 

  • a deliberately self-inflicted injury or attempted suicide;
  • any injury, sickness or disease which existed at the commencement date, whether diagnosed or not; 
  • where the exclusions listed under "All Covers" below apply.
Crisis Cover

No benefit will be paid for a crisis condition caused or resulting from: 

  • any injury, sickness, disease or degenerative condition which existed at the commencement date, whether diagnosed or not; or sickness, disease or degenerative condition which made itself known within 90 days of the commencement date; 
  • a deliberately self-inflicted injury or attempted suicide; 
  • being addicted to alcohol or a drug; 
  • being under the influence of alcohol, poison or drugs not medically prescribed; 
  • where the exclusions listed under "All Covers" below apply.
Total Disability and Total and Permanent Disability 

No benefit will be paid:

  • for absence from work due to childbirth, abortion or uncomplicated pregnancy.
  • for disability arising from:
    • any injury, sickness, disease or degenerative condition which existed at the commencement date whether diagnosed or not, or sickness, disease or degenerative condition which first made itself known within 14 days of the commencement date; 
    • deliberate self-inflicted injury or attempted suicide;
    • any travel by air other than as a fare paying passenger;
    • being addicted to alcohol or a drug;
    • being under the influence of alcohol, poison or drugs not medically prescribed.
  • where the exclusions listed under "All Covers" apply.
Redundancy

No benefit will be paid:

  • for cardholders who are self-employed, or in seasonal, casual or contract work;
  • for unemployment which was in existence at the commencement date or occurred within 28 days of the commencement date;
  • if the cardholder knew or ought to have known, at the commencement date, of possible redundancy;
  • if you have just completed a fixed term contract of employment; 
  • if you were made redundant from employment outside of New Zealand;
  • where the cardholder was a director with control over employees, or employed by a direct family member;
  • resignation, dismissal or voluntary redundancy;
  • where the exclusions listed under "All Covers" below apply.
Bankruptcy

No benefit will be paid:

  • for cardholders who are not self-employed;
  • for voluntary bankruptcy;
  • where the exclusions listed under "All Covers" below apply.
All Covers

There is no cover for any claim resulting from:

  • riot or civil commotion, strike, lockout, war, civil war, rebellion, insurrection, the use of military or usurped power or if the cardholder was committing an unlawful act;
  • any injury, sickness or disease sustained outside New Zealand if you have been outside New Zealand for over six months.

Read your policy

You’ll find more details about your cover in your policy document including full details on waiting periods, exclusions and limits on cover. Do read it carefully, so you fully understand your cover.

See your Card Repayment Cover policy