This Mobile Phone Protection Insurance (Cover) is provided under and by way of a group policy (Group Policy) issued by AIG Australia Limited (ABN 93 004 727 753, AFSL 381 686) (AIG) to Citigroup Pty Limited (Citi) (ABN 88 004 325 080, AFSL and Australian credit licence 238098).
This Cover is available to Cardholders (“you/your”) while you remain a Mastercard and/or Visa cardholder of Citi, subject to Citi’s and AIG's right to alter the Cover. The terms, conditions and excluded cover are specified in the 'Citi Credit Cards Complimentary Mobile Phone Insurance Terms and Conditions'. Changes to the ‘Citi Credit Cards Complimentary Mobile Phone Insurance Terms and Conditions’ or the cancellation of Cover will be notified to you by Citi.
So as to make sure that the Cover meets your needs and is suitable for you and your personal circumstances, these terms and conditions must be reviewed by you and, if necessary, you should also seek independent financial advice in relation to same.
Citi is not the issuer or insurer of the Cover
Citi has entered into an insurance contract issued by AIG with the intention that the benefit of the Cover is extended to Cardholders. Neither Citi nor any of its related corporations guarantee any of the benefits under the Cover. The Cover is provided for your benefit under the Group Policy. Citi is the policyholder under the Group Policy When eligible, you have the benefit of cover as a third party beneficiary solely by reason of the statutory operation of Section 48 of the Insurance Contracts Act 1984 (Cth). Citi does not hold anything on trust for, or for the benefit of, or on behalf of, you in relation to the Cover. If you meet the eligibility criteria for the Cover, the Cover is provided at no additional cost to you. Citi does not receive any commission or remuneration from AIG in connection with this Cover. Neither Citi nor any of its related corporations are authorised representatives (under the Corporations Act 2001 (Cth) of AIG. Citi does not act on behalf of AIG or on your behalf in relation to the Cover and nothing prevents any of Citi or AIG from entering into other insurance arrangements. Any eligible or admitted claim you make under the Group Policy which is covered will be paid by AIG.
Mastercard is not the issuer or insurer of the Cover
Mastercard does not underwrite any insurance business or otherwise act as an insurer, insurance advisor or insurance agent. AIG, and not Mastercard, is providing the relevant insurance benefits and handling any corresponding claims. Mastercard is not in any way responsible for the handling, disposition or payment of any claim submitted via AIG’s website or otherwise.
AIG may terminate the Cover in accordance with 60 of the Insurance Contracts Act 1984 (Cth) by providing Citi with at least 40 days’ prior written notice of the proposed termination. Citi will give you prior written notice if Cover ends.