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Fidelity Life underwritten FAQs.
For Westpac Card Repayment Cover and Free Credit Card Balance Cover for Classic and Gold Cards.
FAQs.
What is Westpac Card Repayment Cover?
Westpac Card Repayment Cover is an optional credit card insurance product designed to help you protect your credit card repayments in the event of death, terminal illness, total disability, total and permanent disability, specified crisis conditions, redundancy and bankruptcy.
What is Free Credit Card Balance Cover for Classic and Gold Cards?
Free Credit Card Balance Cover for Classic Cards and Free Credit Card Balance Cover for Gold Cards was a benefit of certain credit cards that were issued before August 1999. It is to provide financial assistance towards your credit card repayments on death, or total and permanent disablement for Gold Cards only.
Why is my policy ending?
In October 2019, Westpac Card Repayment Cover was closed to new customers. Free Credit Card Balance Cover for Classic Cards and Free Credit Card Balance Cover for Gold Cards both closed to new customers in August 1999.
Since then, the number of customers with this cover has steadily declined each year. A review of this product has resulted in a decision to end the cover. We apologise for any inconvenience this closure may cause.
When does my policy end?
Westpac Card Repayment Cover – the cover for you and any eligible joint, or additional card holders will be ending (closure date) on 28 February 2023.
Free Credit Card Balance for Classic Cards - the cover for you and any eligible joint card holder will be ending (closure date) on 01 April 2023.
Free Credit Card Balance for Gold Cards - the cover for you and any eligible joint card holder will be ending (closure date) on 30 April 2023 for Free Credit Card Balance Cover for Gold Cards.
When is my last premium payment?
For Westpac Card Repayment Cover, premiums will continue to be charged monthly based on the outstanding balance of your credit card account at your monthly statement date, up to and including your January 2023 statement.
If you don’t have an outstanding balance, then no premium will be charged. If you have an outstanding balance in February 2023, we’ll waive any premiums that would have been charged in that month, however your insurance cover will remain in place until 28 February 2023.
For Free Credit Card Balance Cover for Classic Cards and Free Gold Credit Card Balance Cover for Gold Cards there are no premiums paid.
Can I cancel my policy sooner?
If you no longer require your Westpac Card Repayment Cover, you can email westpac.insurancehelp@fidelitylife.co.nz or call Fidelity Life on 0800 738 641 weekdays between 8.30am and 5pm, or +64 3 372 4855 if you’re overseas.
For Free Credit Card Balance, there is no policy to cancel as this is a free benefit of your card.
Can I get a refund on the premiums I have paid?
No. Westpac Card Repayment premiums are paid monthly and calculated against the balance of your credit card for that period. You have therefore received a benefit of the insurance cover for that period. If you have not had an outstanding credit card balance for a particular month, then you have not been charged a premium for that month.
I still want this cover, what can I do?
There is no alternative Westpac credit card insurance.
If you would like to explore other insurance options to make sure you have the right cover in place to meet your needs going forward, we recommend you speak with us on 0800 400 600 weekdays between 7am and 8pm and weekends between 8am and 5pm, or +64 9 912 8000 if you’re overseas, or email us through our online form westpac.custhelp.com/app/ask
Will this affect my credit card?
No. This will not affect your credit card and you can continue to use it as you do today.
Do I need to do anything else?
No. This cover will automatically cancel, so you don’t need to do anything.
I’m having problems making repayments on my credit card, or I’ve had a change in circumstances that might affect my ability to make future payments on my credit card.
Please contact our Financial Solutions team on 0800 772 771 as soon as possible.
Claims.
What if I currently have an accepted claim?
The closure of Westpac Card Repayment Cover, Free Credit Card Balance Cover for Classic Cards and Free Credit Card Balance Cover for Gold Cards, does not affect your current claim.
What if I submitted, or need to make a claim before the closure date?
All claims submitted for events that occurred prior to the closure date will be assessed and if accepted, paid as per the policy terms and conditions.
What if I need to make a claim after the closure date?
You may still be able to make a claim after the closure date if the reason you are claiming is for something that happened before, or on the closure date. All the existing policy terms and conditions including eligibility criteria and waiting periods will apply to your claim.
How do I make a claim?
To make a claim please call Fidelity Life 0800 738 641 weekdays between 8.30am and 5pm, or +64 3 372 4855 if you’re overseas, or email westpac.insurancehelp@fidelitylife.co.nz.
What am I covered for and how do I know if I am eligible to make a claim?
For Westpac Card Repayment Cover:
Please refer to the policy document for the full terms and conditions including definitions, eligibility criteria and exclusions, waiting periods, no claim/stand down periods, benefit restrictions and limits that apply to Westpac Card Repayment Cover. A policy document may be downloaded at westpac.co.nz/crc or obtained from any Westpac branch free of charge.
For Free Credit Card Balance Cover for Classic and Gold Cards:
Please refer to westpac.co.nz/credit-card-balance-cover for information about Free Credit Card Balance Cover for Classic and Gold Cards.
Terms and conditions including definitions, eligibility criteria and exclusions, waiting periods, no claim/stand down periods, benefit restrictions and limits apply to Free Credit Card Balance Cover for Classic and Gold Cards and more detail can be found in the relevant Master Policy.
Any claim payment is subject to your claim being accepted.
Things you should know.
Westpac life insurance products are arranged by Westpac New Zealand Limited (“Westpac”) and underwritten by Fidelity Life Assurance Company Limited ("Fidelity Life").
None of Westpac Banking Corporation ABN 33 007 457 141 (incorporated in Australia), Westpac, or any member of the Westpac group of companies guarantee the obligations of, or any products issued by, Fidelity Life or any member of the Fidelity Group of companies.
See Fidelity Life's Financial Strength Rating.
Terms, conditions, exclusions and limits apply to the insurance products set out on this page. Please refer to the relevant policy document and Master Policy for more information.
Any claim payment is subject to your claim being accepted.
Westpac accepts no responsibility for the availability or content of any third party websites and makes no representation as to the accuracy or currency of the materials.