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 optional and only available with a Westpac credit card. You can add it to an existing card, or when you apply, and it could help in several ways:

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If you’re unable to work because of disability

Card Repayment Cover could pay 10% 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 24 months.

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If you’re made involuntarily redundant

Card Repayment Cover could pay 10% 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 six months.

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If you’re self-employed and made bankrupt

Card Repayment Cover could pay up to $10,000 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

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.


More reasons to choose Card Repayment Cover

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

Card Repayment Cover costs 79 cents a month for every $100 of your outstanding credit card balance.

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 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. Neither Westpac Banking Corporation nor Westpac New Zealand Limited (“Westpac”) guarantees 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.
  • the exclusions listed under "All Covers" below.
Total Disability

No benefit will be paid:

  • for absence from work due to pregnancy, childbirth or abortion.
  • for disability arising from:
    • any injury, sickness, disease or degenerative condition which existed at the commencement date, or sickness disease or degenerative condition which first made itself known within 28 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 specific task or specific period 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
  • for the exclusions listed under "All Covers"
Bankruptcy

No benefit will be paid:

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