NZ-wide maintenance: 24-25 October 2026
Due to industry-wide scheduled maintenance, payments sent from one NZ bank to another will be delayed between 10.45pm this Saturday 24th October and 12.00pm Sunday 25th October. These will be processed from 12.00pm on Sunday. Payments between Co‑operative Bank accounts and those to BNZ accounts are unaffected.
Loan Protection Insurance
Loan Protection Insurance is made up of two parts: Disablement Cover and Trauma Cover.
Disablement cover
This insures your loan instalments, meaning if you’re not able to work because you’re ill or injured, and your claim is approved, your loan instalments will continue to get paid.
Trauma Cover
An optional benefit that provides a one-off tax free lump sum payment if you’re diagnosed with one of four trauma events.
Benefits that may work for you
- Recurring disablement benefit - If your claim is accepted within 6 months of a previous claim (for the same illness or injury) the new claim will be treated as a continuation of the previous claim and the 14-day stand down period will be waived.
- If your loans covered by Loan Instalment Care total less than $50,000 there’s no health questions involved to set up Loan Instalment Care. However, there are exclusions and stand-down periods for pre-existing health conditions.
- You can have peace of mind when you’re overseas that Loan Instalment Care cover is available 24/7, anywhere in the world for up to six months.