CardCover Insurance

CardCover is affordable repayment protection insurance to help repay the debt on your National Bank credit card in the event of:

• Illness or Accident preventing you from working for 30 consecutive days or more
• Redundancy
• Critical Illness
• Bankruptcy if you are Self-employed
• Permanent Disablement
• Death

How much does it cost?

It costs only 79 cents per $100 (or part thereof) of your National Bank credit card account balance, shown on your monthly statement. If you have a zero or credit balance, you won’t pay any premium that month. Premiums are automatically charged to your National Bank credit card account each month.

Who is eligible?

As a National Bank credit Cardholder you are guaranteed acceptance for this cover if you’re aged between 18 and 65, and work 25 hours or more a week.

For cardholders aged 65 to 75, cover is limited to the Death benefit only. Cardholders who are not working or who work less than 25 hours a week are covered for the Critical Illness and Death benefits only.

Apply Now

To apply please Call CIGNA Insurance on 0800 659 024.

What is covered?

Illness or Accident

If Illness or Accident causes you Temporary Disablement for 30 consecutive days or more, CardCover pays 15% of the Total Debit Balance at the time you stopped work for each month you remain Temporarily Disabled. CardCover will pay under this benefit until either:

1. You return to work, or
2. The maximum benefit of $60,000 is reached, or
3. The maximum period of 18 months is reached, (whichever comes first).

Redundancy

1. You return to work, or
2. The maximum benefit of $30,000 is reached, or
3. The Total Debit Balance is paid, (whichever comes first)

Critical Illness

If you are diagnosed with a covered Critical Illness, CardCover will pay as a lump sum the Total Debit Balance on your credit card account. CardCover will pay the Total Debit balance owing on your credit card account at the date you are diagnosed with a covered Critical Illness up to a maximum of $30,000.

Bankrupty

If you are Self-employed and declared Bankrupt, CardCover will pay the Total Debit Balance on your credit card account at the date you are declared Bankrupt. CardCover will pay the Total Debit Balance on your credit card account at the date you are declared Bankrupt up to a maximum of $30,000.

Permanent Disability

If you become Permanently Disabled you’ll be covered for the Total Debit Balance on your credit card account at the time of disablement. CardCover will pay the total Debit balance on your credit card account up to a maximum of $60,000.

Death

If you die you’ll be covered for the Total debit balance on your credit card account at the date of your death. CardCover will pay the Total Debit Balance on your credit card account up to a maximum of $60,000.

Please note the above is a summary only. There are some limitations and exclusions that apply. Please refer to the policy wording for details.

CardCover is underwritten by CIGNA Life Insurance New Zealand Limited and is subject to the terms and conditions, provision and exclusions contained in the policy wording which can be obtained by calling 0800 659 029.

CIGNA Life Insurance New Zealand Limited has an A- (Excellent) claims paying rating which was given by A.M. Best Company Inc on 31 December 2008. The rating scale is: