Get a personalised ASB Lifestyle Security Plan that can offer comprehensive insurance solutions including life, loan and income protection.
Simply call us on 0800 200 252.
There are a number of circumstances, called 'exclusions', when AIA will not pay a benefit under your policy.
These include claims resulting from:
For full details of the exclusions relating to this policy, please refer to the benefit sections of the policy wording.
It is not mandatory to have this insurance so if your circumstances have changed or if you think this insurance may no longer be suitable for you, it is important to let us know. ASB Personal Loan Insurance can help you review your current insurance needs and ensure you have the insurance solution that’s right for you.
The cost of the insurance is based on the outstanding balance of your loan. The monthly premium rate is 35 cents (fortnightly is 16.15 cents) per $100 (pro-rated) of the outstanding loan balance.
For example, if your outstanding loan balance was $3,000 the insurance premium for that month would be $10.50 ($3,000/100 x $0.35).
The premium will be waived during the time you are receiving a benefit payment under the Temporary Disablement or Redundancy benefits.
Unless your policy is cancelled earlier by you, your policy will end when your loan is repaid, you stop paying the premiums, you reach age 77, we make a lump sum payment under the terms of the policy (excluding those made on the Death or Terminal Illness of a Spouse or Child benefit) or if all ASB Personal Loan Insurance policies are cancelled under the terms of the policy.
The policy may not be suitable for you if:
Please note, it is important that you are satisfied that you can afford this premium in addition to your ongoing personal loan repayment.
To claim on your ASB Personal Loan Insurance policy, simply contact us on 0800 501 223 or visit an ASB Branch to get an insurance claim form.
Once completed, please return the form to us by:
Once we've received your form we’ll be in touch to confirm the claim has been received and request any further information if required to assess the claim. There may be some instances when you are unable to make a claim, you can find out more in the policy wording.
*AIA Group is the world's largest life insurance company by market capitalisation. Source: Bloomberg 17 June 2019.
The availability of insurance cover is subject to your application being approved. All applications are subject to individual consideration. Special conditions, exclusions or premium loadings may apply. An excess may apply for health insurance policies. For full details refer to the Policy Document which is available on request from any ASB branch. ASB life, health and disability insurance is underwritten by AIA New Zealand Limited ("AIA").