Financial Hardship

Financial Hardship

We’re committed to supporting customers facing financial hardship. Our Financial Hardship Policy can help you access support and services when you need them most.

How we can support you

If you’re in financial stress and are unable to pay money owed to us that is not a premium, we may — in certain circumstances — agree to:

• offer instalment payments
• delay or extend payment terms
• put the recovery of monies on hold
• release your debt (where appropriate)
• agree with you to pay a reduced lump sum amount, and/or
• deduct an excess from a claim amount (cash settlement)

If you’re in financial stress and are unable to pay your premium, then we will work with you to see if we can support you to keep you covered. Support options may include:

• offering instalment payments
• review your payment terms and dates
• providing you with a review of your policy cover

Managing our debt collectors

Our agents have been trained to manage financial distress. If you tell our collection agent or solicitor that you are in financial distress, they must notify us and will give you information in writing about our Financial Hardship process. You may also contact us directly.

How to apply for support

If you’re going through financial hardship, please contact us today. We’ll provide you with a form to apply for financial support and help you through the application process.  

Please let us know if we can help refer you to external services such as community support and financial counselling services.

Natural disaster and fast tracking of urgent claims

We support all our customers and their communities by responding to catastrophes and natural disasters efficiently, professionally and compassionately.

If a natural disaster has meant you have to make a claim under your policy and caused you financial hardship, we may:

• fast track both our assessment of your claim and the process we follow to make a decision about your claim, and/or
• pay you an advance amount in order to ease your urgent financial need within 5 days once agreed.  

If you’re in this position, please let us know – we’re here to support you.

Access to other information and support

Here are free and confidential financial counselling resources that can provide advice to Australians in every state and territory:

• Contact the National Debt Helpline  on 1800 007 007
• Visit the ASIC MoneySmart website 
• View the Good Shepherd website for affordable financial programs to people who are financially excluded.

"We” are AAI Limited, issuer of general insurance products under the Apia brand.

For the purposes of these policies “customer” or “you” are used interchangeably to mean an individual insured, a third-party beneficiary, a potential customer, or an individual which we as an insurer are seeking to recover from. A customer may be liaising with us on their own behalf or via a duly authorised representative.