Direct Debit Terms and Conditions

AA Life Direct Debit Terms and Conditions

Below are the terms and conditions which apply to your Direct Debit arrangement with AA Life. Asteron Life administers your policy for AA Life and arranges all payments. So, if you accept, this confirms Asteron Life’s authority to debit your bank account the same as if you had signed a form.

If the bank account requires more than one signatory to authorise payments, all signatories must accept these terms and conditions. These conditions apply in addition to any terms and conditions your own bank may apply in relation to your account.

Specific conditions relating to notices and disputes

Asteron Life is required to give written notice of the amount and date of each direct debit in a series of direct debits no later than the date of the first direct debit. The notice is to include: 

  • the dates of the debits, and
  • the amount of each direct debit.

 I may ask my bank to reverse a direct debit up to 120 calendar days after the debit if:

  • I don’t receive a written confirmation of the amount and date of each direct debit from Asteron Life, or
  • I receive a written notice but the amount or the date of debiting is different from the amount or the date specified on the notice.

If I’m not reasonably satisfied that the authority authorised my bank to debit my account with the amount of the direct debit, I may ask my bank to reverse a direct debit up to 9 months after the date Asteron Life sent the first direct debit under the authority.

If the bank dishonours a direct debit but Asteron Life sends the direct debit again within 5 business days of the dishonour, Asteron Life is not required to give notice of the amount and date of the second direct debit.

If Asteron Life proposes to change an amount or date of a direct debit specified in the confirmation, they are required to give notice:

  • no less than 30 calendar days before the change, or
  • if Asteron Life’s bank agrees, no less than 10 calendar days before the change.

I understand I can contact Asteron Life at any time and cancel or change this payment authority.

Authorisation Code 0100409

You will be sent confirmation of your payment details as part of your policy documentation within 5 working days of your policy being issued.

Our insurance partner

AA Life is a partnership between The New Zealand Automobile Association Incorporated (AA) and Suncorp Group New Zealand Limited. Asteron Life Limited is Suncorp New Zealand's specialist life insurer and underwrites AA Life's products.

Financial strength rating

Asteron Life Limited has been given an A+ financial strength rating by Standard & Poor’s.

Financial advice

Our website provides general information about our products and services to help you make choices when it comes to protecting the things in life that really matter. The information doesn’t take into account your personal circumstances, needs or goals and is not intended to be financial advice.

If you'd like to receive financial advice, you can get professional advice from an adviser who’s registered under the Financial Advisers Act 2008.