Credit Card Repayment Insurance

Added protection for The Warehouse cardholders
What does it cover?
Acceptance guaranteed
Money Back Guarantee
Already a Warehouse cardholder?
Some Fine Print

Added protection for The Warehouse cardholders

How would you keep making your credit card repayments if you couldn't work because of injury, illness or redundancy?

For peace of mind SmartGuard Credit Card Repayment Insurance could pay 15% of your outstanding balance for up to six months in the case of being off work due to illness or an accident. And in the case of death, diagnosis of a terminal illness or permanent disability, SmartGuard could pay off your outstanding balance in full.

It costs just 78 cents for each $100 (or part) of your statement balance each month, and if you owe nothing then no premium is charged.

The premium varies each month and solely depends on your statement closing balance.
If the closing balance shown on your statement is in credit or is zero, then there is no premium payable.
Your premium (if payable) is billed to your credit card monthly.

For example

If you have a statement closing balance of $900 your premium that month will be $7.02
If your statement closing balance for the next month reduces to $500 then your premium for that month will be $3.90

All the above benefits apply equally to any joint cardholder and there is no additional cost for a joint cardholder.

Just tick the box during the application process.

What does it cover?

Cover applies to the Main Cardholder or, if you have a joint account, cover applies to both the Main and Joint Cardholders.

All benefits apply up to age 65. From age 65 you are covered only for death and terminal illness. All cover ends at age 100.

Being off work due to illness or an accident	If you can’t work in your full time job for more than 30 consecutive days because of illness or an accident, SmartGuard will pay 15% of your outstanding balance at the date you become disabled. SmartGuard will continue to make the payments until you return to work, up to a maximum of 20 months or $60,000. If you don’t work full time, but are in hospital or confined to bed for more than 30 consecutive days SmartGuard will do the same until you are up and about again.
Unemployment through	If you are out of work for more than 30 consecutive
Redundancy	Days after being made redundant from a full time job SmartGuard will pay 15% of your outstanding balance at the date you become redundant for up to 6 months, or $20,000; which ever comes first.
Death or terminal illness	If you die, or you are diagnosed with a terminal illness, SmartGuard will pay off your The Warehouse card balance on the day of death or diagnosis, up to $20,000.
Permanent disablement	If you become permanently disabled from working in a full time job SmartGuard pays off your outstanding balance on your The Warehouse card at the date you become disabled, less any benefit already paid under the policy, up to $20,000.
Bankruptcy	If you are made bankrupt SmartGuard will pay off 60% of your outstanding balance of your The Warehouse card at the day the judgement was made, up to $12,000.

Acceptance guaranteed

Acceptance is guaranteed providing you are over 18 and under 99 years of age and your account is not overdue.
Disability, redundancy and bankruptcy cover all cease at age 65. No medical examination is required and benefits are payable in addition to government, ACC or other insurance policies.

Money Back Guarantee

If you’re not happy with the cover provided you can cancel within 30 days of enrolling and we will refund any premium paid, provided you have not made any claims.

Already a Warehouse cardholder?

Call 0800 44 88 22 to apply. We will send you a registration form to complete. Your insurance will commence as soon as we receive your registration form.

Some Fine Print

You cannot claim for the first 6 months for an accident or illness you had prior to taking SmartGuard. Once 6 months have passed you are in the clear.
Full time job means you are working for 25 or more hours per week with the same employer.
No benefit (except the death benefit) is payable for events occurring in the first 14 days of cover.
All additional Cardholders are covered in the event of terminal illness and death, and if the main Cardholder is not working full time, then the Additional Cardholder will be covered for redundancy instead if they are in full time employment.
Special terms, conditions and exclusions apply and you'll be sent a SmartGuard policy wording brochure explaining these when you accept cover.

SmartGuard is underwritten for The Warehouse Financial Services Limited by Sovereign Assurance Company Limited, 74 Taharoto Road Road Takapuna North Shore 0622, Private Bag Sovereign, Auckland Mail Centre 1142 which has an A+ (Superior) claims paying rating which was confirmed by A.M. Best Company Inc., of New Jersey, United States of America on 21 December 2010.

The rating scale is:

A++ Superior	B+ Very Good	C Marginal
A+ Superior	B Adequate	C- Marginal
A Excellent	B- Adequate	D Very Vulnerable
A- Excellent	C++ Fair	E Under Supervision
B++ Very Good	C+ Fair	F In Liquidation

The information on this page is presented subject to our terms of use page and any other terms and conditions that The Warehouse Financial Services may impose from time to time. It is subject to change without notification.