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Southern Cross

We’re with you during financial hardship

These are hard times for many, so we’ve expanded our financial hardship options for members to help those who really need it most. We’ll continue to review these options as the situation evolves.

If you have lost your job due to COVID-19, we’ve doubled the support available. It means if you’ve lost your taxable income and are no longer in paid work, you can now make a request to place your policy on hold for up to 6 months.

  • Putting your policy on hold – You no longer need to have been a member continuously for 12 months, and even if you have previously placed your policy on hold, you can do so again.
  • Pausing premiums and claiming – While your policy is on hold you won’t need to pay your health insurance premiums. However, you will not be able to claim for eligible medical treatment or healthcare services received during the time your policy is on hold.
  • Hold your pre-existing conditions – You will retain cover for all pre-existing medical conditions you have covered currently.
  • Keep loyalty benefits – You retain or continue to earn loyalty benefits (eg cover for benefits or pre-existing conditions that are earned by having your policy for a certain amount of time).
  • Restart at any time – You can restart your policy at any time and start claiming from the date payments begin.
  • More options – If you haven’t lost your income, but still need support through financial hardship, you can make a request to put your policy on hold for up to 3 months. You can also reduce your premiums by adding an excess to your plan, reducing any add-on modules you may have, or changing plans.

To make a request, please send us an enquiry so we can assess what will be best for you. If you have questions, be sure to check out our financial hardship FAQs.


Built-in product Benefits

All Assurance Extra policies have the following built in benefit that can provide premium relief to customers:

  1. Customers facing financial hardship can use theSuspension of Cover for up to three months. Customers don’t need to make any premium payments for these three months, however there is no cover during the suspension period. Cover will recommence after the three months suspension without the need for underwriting.
  2. Premium Cover – All customers who hold Premium Cover (including those with any of our business products) may be able to claim and have their premiums paid for up to six months if they are made Redundant or declared bankrupt. While claiming on Premium Cover, the customer is still covered.


  • Premium holiday option– up to 12 months on select Life, Survivor’s Income and TPD covers
  • Leave without pay option– up to 12 months on select Income Protection and Monthly Mortgage Repayment covers
  • Retention tools– on a case by case basis our Retention team can help customers with making up missed payments, reinstating cover or a premium freeze or temporary hold


Please note that most of our policies have a loyalty suspension benefit where policies can be suspended after 12 months of cover for Financial hardship through unemployment and redundancy.

  • If their policy hasn’t been in force for 12 months, we can assess this on an individual case basis and make a call. 
  • If someone wishes to make a claim that occurred during the suspension period – they can.
  • If the customer is requesting this before they have completed 3 months of suspension they will need to pay from the date the suspension was put in place.
  • If it taking place after 3 months they can pay up to the billing date before their claim.


Last Updated 06 April 2020