1. Application of Terms & conditions
1.1. In these terms and conditions, reference to “we” and “us” means Fidelity Life Assurance Company Limited (“Fidelity Life”), and “our” has a corresponding meaning.
1.2. “You” means you our customer under these terms and conditions, and “your” has a corresponding meaning.
2.1. By registering a credit card (the “Authority”), you authorise us to charge the credit card for payment of premiums applicable to your policy, and you acknowledge that you have read and understood these Terms and conditions and agree to be bound by them.
2.2. Your Policy must be ‘in-force’ (i.e. current and not cancelled or lapsed) for this Authority to proceed.
2.3. We reserve the right to terminate any Authority and require you to pay your premium by an alternative method.
2.4. If you are not the cardholder, you must have the cardholder’s authority to use the credit card for the purpose of paying premiums on this policy.
3. Payments & refunds
3.1. We accept MasterCard and VISA credit cards.
3.2. Payments will continue to be made in accordance with the Authority until you advise us otherwise in writing.
3.3. Any cancellation request should be received by us at least three working days prior to the next scheduled payment date (if any) to allow for amendment of the amount to be debited to the credit card account. We will endeavour to cancel the Authority with immediate effect but there may be circumstances where we are unable to cancel the scheduled payment.
3.4. We may collect any overdue portion of your premium with this Authority.
3.5. You must ensure that the card has sufficient funds available to cover your payment and any applicable fees.
3.6. Should your payment be dishonoured / declined by your credit card issuer, we may charge you a dishonour fee.
3.7. We can only make refunds to the same credit card that was used to pay the premium amount. If the credit card changes between time of payment and refund, then refunds will be made to the bank account nominated on your Policy.
3.8. If you are authorising recurring payments, a $1.00 transaction may appear on your credit card statement when you register your card. This is part of the authorisation process and will be reversed within 1 to 7 days of the transaction date (may take longer for overseas credit cards).
4. Change of credit card
4.1. When there is a change of credit card issuer, your credit card expires or a replacement card is issued with a new card number, you are responsible for contacting us to request a new link where you can update your credit card details.
4.2. You as the policyholder, must complete the request to update your credit card details via the electronic link provided. By completing the information and proceeding to register the credit card, you authorise us to deduct payments for your policy from the credit card.