Card Protect FAQ

You can cancel your Card Protect policy at any time by contacting us on 0800 500 108 during business hours

Please note, we won’t refund premiums if you’ve made a claim before requesting your Card Protect policy to be cancelled.

1. A completed Card Protect Claim Form a. Download the Card Protect Claim Form, or call us on 0800 801 808 to request a copy. b. Fill out all sections of the form that apply to your claim. c. Sign the back page of the form.
2. Attach any additional information requested in each section of the form that applies. A claim can only be considered once AIA have all the necessary information, including where applicable a. a completed Medical Certificate section of the claim form (this applies to Critical illness or Terminal illness claims), or b. a completed Employer Details section (this applies to Redundancy claims).

If you make a valid claim, we’ll make payments directly to your credit card account. However, when you (or the person administering your finances if you die) make a claim for permanent disablement, death or terminal illness we’ll also pay you an additional 15% cash assistance. This money will be deposited into your bank account, not your credit card account. We’ll ask you (or the person administering your finances) to provide us with the Account Number we can deposit this payment into.

• Send us an email to enquireNZ@aia.com attaching the claim form and any supporting documents
• Post the claim form and any supporting documents to:

Freepost AIA
Private Bag AIA
Victoria Street West
Auckland 1142
New Zealand

No. Under the terms and conditions of the Warehouse Money Card Protect Policy Document you’re only covered for one event at any one time.

Please refer to the Warehouse Money Card Protect Policy Document for the full terms and conditions, exclusions, and stand-down periods that apply to each benefit.

Temporary Disablement – Up to $60,000

If you have an accident or you’re unwell and unable to work in your job for at least 30 consecutive days, Card Protect will calculate 15% of your credit card’s outstanding balance as at the time you became disabled and pay this amount into your credit card account each month you remain disabled, for up to 24 months or $60,000 (whichever happens first). If you don’t work for at least 10 hours per week in permanent employment, then to receive the benefit you must be confined to a hospital or bed at home for at least 30 consecutive days, on medical advice acceptable to AIA.

Permanent Disablement – Up to $50,000

If you’ve been disabled for at least 3 consecutive months and you’re unlikely to ever be able to go back to your job, Card Protect will make a lump sum payment into your credit card account to repay the total amount you owed on your credit card as at the time you became disabled (less any amount already paid into your credit card account under Temporary Disablement). The most we’ll pay on your credit card balance is $50,000. We’ll also give you an additional 15% of this payment as cash to help you through this difficult time.

If this benefit is paid, your cover will end.

Critical Illness – Up to $25,000

If you’re diagnosed with a specified critical illness (as defined in the Card Protect Policy Document), Card Protect will make a lump sum payment into your credit card account to repay the total amount you owed on your credit card as at the time of diagnosis. The most we’ll pay is $25,000.  If this benefit is paid, your cover will end.

Death or Terminal Illness – Up to $50,000

If you are diagnosed with a terminal illness or you die, Card Protect will make a lump sum payment into your credit card account to repay the total amount you owed on your credit card as at the time of diagnosis or death. The most we’ll pay on your credit card balance is $50,000. We’ll also give you or your estate an additional 15% of this payment as cash to help through this difficult time. 

If this benefit is paid, your cover will end.

Redundancy – Up to $25,000

If you’re made redundant from your permanent job and are out of work for at least 30 consecutive days, Card Protect will calculate 15% of your credit card’s outstanding balance as at the time you became redundant and pay this amount into your credit card account each month you remain unemployed, for up to 6 months or $25,000 (whichever happens first).

Bankruptcy – Up to $25,000

If you’re self-employed and you become bankrupt, Card Protect will make a lump sum payment into your credit card account to repay the total amount you owed on your credit card as at the time of your bankruptcy. The most we will pay is $25,000. 

If this benefit is paid, your cover will end.

Please refer to the Warehouse Money Card Protect Policy Document for the full terms and conditions, exclusions, and stand-down periods that apply to each benefit.

We reserve the right to cancel your Card Protect policy under the terms and conditions of your cover. If this happens, you’ll get at least 30 days’ notice and alternative cover options can be discussed with you.

We may cancel your policy if:

• you provide false information or make false declarations when you make a claim, or
• your Purple Visa Card account is in arrears, or
• we no longer offer Card Protect insurance to our cardholders.

Cover for Card Protect ends when any one of the following happens:

• you ask us to cancel your Card Protect policy, or
• we exercise our right to cancel your policy, or
• you cancel your credit card and close your credit card account, or
• you stop paying your premium, or
• you reach 100 years of age, or
• we pay a claim for death or terminal illness, permanent disability, critical illness, or bankruptcy.

No. Your Card Protect policy only covers the specific credit card account you choose to insure.

Each benefit has terms and conditions, exclusions, and stand-down periods that apply. 

Here are some of the exclusions that apply to your insurance. Your claim won’t be paid out if it is caused or contributed to by any of the following:

Deliberately injuring yourself

• you deliberately injure yourself or make yourself ill, attempt to injure yourself, commit suicide, or attempt to commit suicide.

Medication and drugs

• you deliberately take non-prescribed drugs other than for medical reasons and in accordance with the manufacturer’s directions, or
• you misuse prescribed drugs, or
• you don’t comply with treatment prescribed by your attending treatment providers, or
• you drive a vehicle with a blood alcohol level in excess of the legal limit.

Redundancy

• you take voluntary redundancy, retire or are dismissed, or
• you knew or ought to have known when your insurance started that you could be made redundant, or
• you are self-employed, or
• you are employed in seasonal, part-time, contract or relief work; or
• you work for an employer owned or controlled by you or any of your relatives, or
• you have been on any type of unpaid leave for longer than 30 days, or
• your redundancy results from a strike or labour dispute.

Bankruptcy

• you knew or ought to have known when your insurance started that you could be made bankrupt.

Also, you will be ineligible for some benefits if your claim is related to criminal conduct, pregnancy or childbirth.

Stand-down periods

Different stand-down periods apply to each type of claim. This means that we won’t pay out a benefit if what you are claiming for happens within a specified period of time from the start of your insurance:

• Accident-related claims – no stand-down period applies
• Critical illness claims – a 3 month stand-down period applies and for all other illness-related claims (including death by illness) a 14 day stand-down period applies
• Redundancy and bankruptcy claims – a 30 day stand-down period applies.
• Claims related to pre-existing conditions – a 6 month stand-down period applies.

This is a summary only. Please refer to the Warehouse Money Card Protect Policy Document for the full terms and conditions, exclusions, and stand-down periods that apply to each benefit.

It costs $0.74 for every $100 (or part thereof) you owe on your credit card. 

We’ll calculate your insurance premium for the month based on your credit card monthly closing balance, and charge this amount to your credit card account each month. You’ll only be charged a premium if you owe money on your Warehouse Money credit card.

Here are a few examples of how much you could be charged:

You can cancel your Card Protect policy anytime using any one of these methods:

• Call us on 0800 801 808
• Send us a secure email via WM Connect
• Send us a signed letter to:

SBS Money Limited

PO Box 1204

Invercargill 9840