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ANZ Credit Card Insurance customers

If you have insurance on your ANZ credit card and have been affected by COVID-19 – we’re here to help.

 

Do you have insurance on your ANZ credit card?

If you have insurance on your ANZ credit card, with either:
 

  • ANZ Credit Card Insurance
  • ANZ CreditCover Insurance, or
  • ANZ CreditCover Plus Insurance

And you have lost your job through no fault of your own, are unable to work because of illness or injury - this insurance is designed to help you meet your credit card repayments. If you have been stood down due to COVID-19, you may also be able to claim at this time.

If we accept your claim a monthly benefit is paid directly to your nominated credit card account while you are ill, injured (Disability benefit) or involuntarily unemployed (Involuntary Unemployment benefit). 

The monthly benefit is calculated at 20% of the total amount outstanding of the nominated credit card account as at the date you become involuntarily unemployed, ill or injured and unable to work. 

The benefit will be paid until: 

  • you are no longer ill or injured,
  • you are no longer unemployed,
  • your total outstanding balance as at the claim event date is paid in full, or
  • after receiving the benefit for 150 days

whichever is the earliest.

You must have been working at least 10 hours per week at the time you lost your job. A waiting period must be met before you can claim – this is 14 days for Involuntary Unemployment benefit and 5 days for the Disability benefit. 

Your credit card must be active at the date of your claim event to ensure your policy is inforce. Terms, conditions and exclusions apply to your cover. To understand how your cover works, you should read the Product Disclosure Statements (PDS). If you would like us to mail you a copy of the PDS please call us on 13 16 14.

Your policy also covers you for: 

  • Critical illness
  • Family Trauma
  • Total and Permanent Disability
  • Life
  • Accidental death, and
  • Inconvenience (stolen card or fraud).

Examples of claim payments

To give you an idea of how the policy works, here are two examples of how the benefit is paid.

It's theoretical. And before we accept a claim and make a payment, we will confirm you meet the benefit eligibility, terms and conditions.

 

Involuntary Unemployment benefit

We pay towards Kelly’s credit card bill for 3 ½ months.

Kelly is made redundant on 18 March and has begun looking for a new job. She is unemployed for a total of 120 days. The balance on her credit card is $2,000 on the date she becomes unemployed. 

Our Involuntary Unemployment benefit pays 20% of her outstanding balance (at the claim event date) each month. A waiting period of 14 days applies for this benefit, so:

  • the period we pay for starts on  1 April
  • we pay for 106 days.

We pay $1,413 into Kelly’s credit card account over 3 ½ months.

 

Breakdown of repayments:

Amount

Days covered of the 106

Extra info

$400

30

$400 is 20% of the $2,000 balance

$400

30

 

$400

30

 

$213

16

$213 is payment for 16 days

$1,413

 

Total over 106 days
(120 days, minus the 14-day waiting period)

Disability benefit

We pay towards Helen’s credit card bill for 4 months.

Helen is disabled on 18 May. She can’t work for 130 days. The balance on her credit card is $3,500 on the date she becomes disabled.

Our Disability benefit pays 20% of her outstanding balance (at the claim event date) each month. A waiting period of 5 days applies for this benefit, so:

  • the period we pay for starts on 22 May
  • we pay for 125 days.

We pay $2,916 into Helen’s credit card account over 4 months.

 


Breakdown of repayments:

Amount

Days covered of the 125

Extra info

$700

30

$700 is 20% of the $3,500 balance

$700

30

 

$700

30

 

$700

30

 

$116

5

$116 is payment for 5 days 

$2,916

 

Total over 125 days
(130 days, minus the 5-day waiting period)

Eligibility and limits apply

There are terms, conditions and exclusions that apply to your cover (you will find these in your PDS and any subsequent updates we have sent you). For example, we are unable to pay an Involuntary Unemployment claim for: 

  • Resignation, retirement, voluntary redundancy,
  • Dismissal due to misconduct,
  • End of contract or apprenticeship on the date the contract was supposed to end,
  • Sale of your business,
  • A loss of turnover experienced by your business while still in operation.

If you’re unsure, please contact us.

Any questions?

Talk to us

We can help you with questions about your policy. And if you are experiencing hardship, call us and we can review your cover with you. 

 

Call 13 16 14

(Option 1) Mon-Fri 9am to 5pm (AEST)

Ready to claim?

If you’re claiming for Involuntary Unemployment we will ask for details of your employment and when you were made unemployed. We will ask for evidence in the form of a ‘Separation Certificate’ or a letter from your employer confirming you have been stood down, or other reasonable evidence.

Email our Claims team 

Please provide the following information and we'll call you back within 5 business days.

  • your name, 
  • your phone number,
  • your policy number,
  • claim type (eg: Involuntary Unemployment, Disability),
  • date of claim event (eg: date you became unemployed).

Email our claims team

Call our Claims team

If you are ready to claim over the phone, our claims team are here to help. 

Please note, we are experiencing a high volumes of calls and are unable to answer general questions about your policy.

If you'd like to make a general enquiry about your policy, please call us on 13 16 14 selecting (Option 1) - before contacting our Claims team.
 

Call 13 16 14

(Option 2) Mon-Fri 9am to 5pm (AEST)

Credit Card Insurance, CreditCover and Credit CoverPlus is issued by OnePath Life Limited (OnePath Life) ABN 33 009 657 176, AFSL 238341 for the Life Benefit, Accidental Death Benefit, Total and Permanent Disability Benefit and Critical Illness Benefit, and OnePath General Insurance Pty Limited (OnePath General) for the Disability Benefit, Involuntary Unemployment Benefit, Family Trauma Benefit and Inconvenience Benefit.  Although Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 distributes this product, ANZ does not guarantee or stand behind the product issuers or the products. This information is dated 18/06/2020 and may be subject to change.

Australia and New Zealand Banking Group Limited (ANZ) (ABN 11 005 357 522, AFSL 234 527 is an authorised deposit taking institution (Bank) under the Banking Act 1959 (Cth). The issuers of these products are not Banks. Although ANZ distributes these products and except as described in the relevant PDS, ANZ does not stand behind or guarantee the issuers or the products.

ANZ Financial Planners are representatives of ANZ, the holder of Australian Financial Services Licence number 234527.

This information is of a general nature and has been prepared without taking account of your personal objectives, financial situation or needs. Before acting on the information, you should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs..