Please note there is a 21 day stand down period for claims from the Start Date of this Policy.
As Confirmation of Application Details, I agree that:
Policy Terms & Conditions
I have read, I understand and I agree to the MBI Policy Wording and Direct Debit Terms that follow…
Bank Account Authority
If I have chosen to pay my premium by direct debit, I confirm that I have Authority over the nominated bank account.
Financial Strength Rating
All licensed insurers are required to have a financial strength rating ("FSR") from a rating agency authorised for this purpose by the Reserve Bank of New Zealand. Beneficial Insurance Limited has been rated B++ Outlook Stable by AM Best Company. The AM Best company financial strength rating scale is as follows:
-
Secure
-
A++, A+ (Superior)
-
A, A- (Excellent)
-
B++, B+ (Good)
-
Vulnerable
-
B, B- (Fair)
-
C++, C+ (Marginal)
-
C, C- (Weak)
-
D (Poor)
-
E (Under Regulatory Supervision)
Privacy Act 1993 Authorisation
I understand that this authorisation relates to personal information about me which I or others provide to Beneficial Insurance Limited or its appointed agent(s) ("you/your"). I understand that information collected by you will be held at your office and that I may access and correct that information by contacting you. I acknowledge that my information will be used: to assess my credit worthiness and risk profile for the purposes of issuing this Policy; for the management, administration, protection or enforcement of this Policy (including, without limitation, assessing any claim I may make) and any other agreement you have with me; and for promotional and marketing purposes. I understand you may use my contact details to communicate with me, for example, to notify me of special offers or programs that I might find of interest from one or more of your related party companies.
By completing and submitting this online application, I authorise you to exchange information about me, to make enquiries, disclose and obtain information about me to and from anyone else (including insurers, pet medical services providers, potential assignees, credit providers and credit agencies) and I also authorise the provision of such information by anyone else to you. I understand that all information you provide to any agency including information relating to any default by me of any obligation to you may be held by any agency for its credit reporting service and that the agency may give such information to its customers who use its service. I also understand that I may access and correct the information held by the agency by writing to the agency at their postal address.
Declaration
I declare that the information and responses provided by me within this online application are true and correct and that all Material information has been disclosed to you. I agree that this online application and the declaration shall form the basis of the Policy between me and Beneficial Insurance Limited and the Policy terms and conditions in respect of this Policy that I have selected, shall apply. I declare that I am over the age of 18 years and am legally competent to complete this online application.
Free Look Period
I acknowledge that a Policy Schedule will be sent to me and I have a 7 day "free look" period during which I can read over the Policy and decide if I wish to continue with it. If I decide not to continue with the Policy, I understand that I will need to advise Beneficial in writing within seven days (details of how you can do this are set out in the Policy Wording).
Conditions of this Instruction to accept Direct Debits
1) The Initiator:
a) Undertakes to give notice of the commencement date, frequency and net amount at least 10 calendar days before the first Direct Debit is drawn (but not more than 2 calendar months). This notice will be provided in writing (including by electronic means and SMS where I/we have provided prior written consent (including by electronic means including SMS) to communicate electronically).
Where the Direct Debit system is used for the collection of payments which are regular as to frequency, but variable as to amount, the Initiator undertakes to provide the Customer with a schedule detailing each payment amount and each payment date.
In the event of any subsequent change to the frequency or amount of the Direct Debit, the Initiator has agreed to give advance notice of at least 30 days before the change comes into effect. This notice must be provided in writing (including by electronic means and SMS where I/we have provided prior written consent (including by electronic means including SMS) to communicate electronically).
b) May, upon the relationship which gave rise to this Instruction being terminated, give notice to the Bank that no further Direct Debits are to be initiated under the Instruction. Upon receipt of such notice the Bank may terminate this Instruction as to future payments by notice in writing to the Customer.
c) May, upon receiving written notice (dated after the date of this Instruction) from a bank to which the Customer has transferred their account, initiate Direct Debits in reliance of that written notice and this Instruction from the account identified in the written notice.
2) The Customer may:
a) At any time, terminate this Instruction as to future payments by giving notice of termination to the Bank and to the Initiator by the means agreed by me/us, the Bank and the Initiator.
b) Stop payment of any Direct Debit to be initiated under this Instruction by the Initiator by giving written notice to the Bank prior to the Direct Debit being paid by the Bank.
c) Where a variation to the amount agreed between the Initiator and the Customer from time to time to be direct debited has been made without notice being given in terms of clause 1(a) above, request the Bank to reverse or alter any such Direct Debit initiated by the Initiator by debiting the amount of the reversal of alteration of Direct Debit back to the Initiator through the Initiator’s Bank, PROVIDED such request is made not more than 120 days from the date when the Direct Debit was debited to my/our account.
d) Request the Bank to reverse any Direct Debits initiated by the Initiator under the Instructions by debiting the amount of the Direct Debits back to the Initiator through the Initiator’s Bank where the Initiator cannot produce a copy of the Instructions and/or Confirmation to me/us that I/we are reasonably satisfied demonstrate that I/we have authorised my/our bank to accept Direct Debits from the Initiator against my/our account PROVIDED the request is made not more than 9 months from the date when the first Direct Debit was debited to my/our account by the Initiator under the Instructions.
3) The Customer acknowledges that:
a) This Instruction will remain in full force and effect in respect of all Direct Debits passed to my/our account in good faith notwithstanding my/our death, bankruptcy or other revocation of this Instruction until actual notice of such event is received by the Bank.
b) In any event this Instruction is subject to any arrangement now or hereafter existing between me/us and the Bank in relation to my/our account.
c) Any dispute as to the correctness or validity of an amount debited to my/our account shall not be the concern of the Bank except in so far as the Direct Debit has not been paid in accordance with this Instruction. Any other dispute lies between me/us and the Initiator.
d) Where the Bank has used reasonable care and skill in acting in accordance with this Instruction, the Bank accepts no responsibility or liability in respect of:
- The accuracy of information about Direct Debits on Bank statements; and
- Any variations between notices given by the Initiator and the amounts of Direct Debit.
e) The Bank is not responsible for, or under any liability in respect of the Initiator’s failure to give notice in accordance with 1(a), nor for the non-receipt, or late receipt of notice by me/us for any reason whatsoever. In any such situation the dispute lies between me/us and the Initiator.
f) Notice given by the Initiator in terms of clause 1(a) to the debtor responsible for the payment shall be effective. Any communication necessary because the debtor responsible for payment is a person other then me/us is a matter between me/us and the debtor concerned.
4) The Bank may;
a) In its absolute discretion conclusively determine the order of priority of payment by it of any monies pursuant to this or any other Instruction, cheque or draft properly signed by me/us and given to or drawn on the Bank.
b) At any time terminate this Instruction as to future payments by notice in writing to me/us. Charge its current fees for this service in force from time-to-time.
These terms and conditions are Payments NZ Limited approved and are non-negotiable.
