Credit card repayment insurance

CCRI claims are made directly with AIA.

Call 0800 872 274 or complete an online notification at https://www.aia.co.nz/en/help-support/claims.html# and the AIA claims team will be in touch.

If you suffered a claim event on, or before 30 April 2023 CCRI can help repay your Co‑operative Bank Fair Rate Credit Card whether it is due to redundancy, bankruptcy, critical illness, disablement, terminal illness, or death.

AIA New Zealand Limited (“AIA”).

AIA, the insurer for your CCRI decided to stop offering CCRI to our Fair Rate Credit Card customers, as it has withdrawn this product from the New Zealand market.

Your CCRI policy ended on 30 April 2023. Please refer to the communication we sent to you in March 2023 confirming the date that your policy would end.

Your last full CCRI premium payment was charged in April 2023 and you will be able to see this charge on your April 2023 Co‑operative Bank Fair Rate Credit Card statement. The CCRI premium was only deducted if you had an outstanding balance owing on your Co‑operative Bank Fair Rate Credit Card account.

No. CCRI premiums are paid monthly in arrears, and the premium is calculated against the balance owing on your Co‑operative Bank Fair Rate Credit Card for the period for which you have CCRI cover in place. This premium is charged on past balances, so there is no future premium to refund.

Multiple insurers are removing CCRI from the New Zealand market, so if you still want CCRI cover, it would be best to speak with an insurance adviser to understand what your options are and to put in place the right cover to meet your needs going forward. If you don’t have an adviser, you can contact AIA on 0800 500 108 Monday to Friday from 8.30am – 5pm or LiveChat at www.aia.co.nz and they’ll let you know how you can contact an adviser to help you. The Co‑operative Bank does not have any alternative arrangements in place for this type of insurance.

You can make a claim even after your CCRI policy ended, but only if the event occurred on or before 30 April 2023. If you’re unsure whether you can make a claim, please call AIA on 0800 500 108 or LiveChat at www.aia.co.nz. All existing CCRI policy terms and waiting periods will apply to your claim.

If you currently have a CCRI claim for Temporary Disablement or Redundancy, AIA’s claims team will be in contact to discuss next steps. Rest assured that your claim will continue to be paid if you still meet the policy criteria for an acceptable claim and your claim term has not come to an end.

No, the cancellation of your CCRI policy does not affect your Co‑operative Bank Fair Rate Credit Card and you can continue to use it as you do today.