Overpaid premium refund

We’ve identified that due to an error on our part, some of our members, both past and present, may have overpaid their premium.

We’re currently in the process of contacting our affected members so we’re able to credit or refund the overpaid premium as well as provide compensation in the form of ‘time value of money’.

What do you need to do?

If you’re entitled to a refund or premium credit, you’ll receive an email or letter from us to confirm next steps:

  • If you’re a current Southern Cross member, you may get a premium credit. We’ll confirm the amount of credit being applied to your next premium payment/s.
  • If you’re getting a refund, and we have your bank account on record, we’ll confirm that account as the one we’ll be paying the refund into. If you’re happy for the refund to be paid into that account, you won’t need to do anything.
  • If you want the refund to be paid to a different bank account, you will need to complete this form. If we don’t hear from you within 10 working days of the date on your email or letter from us, the refund will be paid into the bank account set out in our communication to you.
  • If you’re getting a refund and we don’t have your bank account details, we’ll request that you complete this form within 30 days of the date on your email or letter. We will refund you within 10 working days of receiving your completed form.

Provide your bank details

Our complaints process

If you’re dissatisfied with the financial advice service provided by or on behalf of Southern Cross, you can raise your concern directly with any of our nominated representatives, or by:

  • Calling us on 0800 800 181
  • Using our online complaints form
  • Writing to us at: Complaints at Southern Cross, Southern Cross Health Society, Private Bag 99934, Newmarket, Auckland 1149.

We’ll acknowledge receipt of your complaint within two working days of the date we receive it (or if it is not practicable to do so, as soon as practicable after that time). We’ll aim to resolve your concerns in a timely manner, and we’ll keep you informed of our progress.

So that we can best address your complaint, we may refer your complaint to different teams within Southern Cross. We will respond to you in a timely, fair and transparent way.

If you’re unhappy with our response, you can request that your complaint be reviewed by the Chief Operating Officer of Southern Cross. The Chief Operating Officer will review and make a final determination in respect of your complaint, which will be communicated to you as soon as possible.

Still not satisfied?

We belong to the Insurance and Financial Services Ombudsman’s approved dispute resolution scheme (IFSO). The IFSO Scheme is a free and independent dispute resolution service available to consumers that may help investigate or resolve complaints if not able to be resolved through our internal complaints process.

If your complaint has been fully investigated by us and you’re still not satisfied with the outcome, you can refer your complaint to the IFSO for review.

You can contact the IFSO Scheme on 0800 888 202, email at [email protected] or www.ifso.nz.

Alternatively, you can write to: Insurance and Financial Services Ombudsman, PO Box 10845, Wellington 6143.



  • Why do some current Southern Cross members get a credit while others get a refund?

    It depends on how your premium is paid. If you’re a private member, or a member of a work scheme that allows for premiums to be paid by direct debit or credit card, then a credit will be applied to your policy to be used on your next premium payment. If you’re a member of a work scheme that takes premium payment from your salary or wages, then a refund of overpaid premium is the simplest way to return the overpayment. This is due to system limitations when it comes to work schemes with wage/salary deduction premium payments.

  • Who receives the refund?

    The policyholder will receive the refund. If you’re entitled to a refund, you can nominate any New Zealand bank account in the policyholder’s name. You’ll have to let us know which bank account you would like the refund paid into if it’s a different bank account to what we have in our records.

  • How is the refund/credit calculated?

    We’ll be refunding or crediting the total amount of any overpaid premium plus the time value of money.

  • What does “the time value of money” mean?

    Time value of money is compensation for the use of money. This compensation is calculated using the Reserve Bank of New Zealand (RBNZ) 6-month deposit interest rate. The compensation amount is determined by applying this interest rate to the refund/credit amount on a monthly basis for the relevant refund/credit period.

  • What is the relevant refund/credit period?

    The relevant refund/credit period is the time between the date the premium was first overpaid until the date we calculate the credit or refund.

  • I’ve been asked for proof of my bank account.

    If we’ve asked you for proof of your bank account, please go to https://contact-us.southerncross.co.nz/refund-details, complete the form and attach proof of your bank account which includes your bank account name and number.

  • How can I get in touch with Southern Cross?

    You can phone us on: 0800 800 181 or visit us online for other ways to get in touch.