AFA Life and Health Insurance Cashback - terms & conditions


AFA Cashback terms & conditions

1.            Acceptance of terms: By taking out an insurance policy which has a Cashback or Special Offer applying to it (an “Eligible Policy”), you agree to these terms and conditions (“Terms”) which are between AFA NZ Limited (“Financial Advisers under Financial Advice providers CFAN Limited”) and you. For further information, please read our Disclosure statement available on our website or upon request.

AFA may update these Terms at any time without notice to you but will adhere to the terms that applied at the time you took out the Eligible Policy.

2.            Cashback: A “Cashback” is where AFA offers to make a cash payment to you, calculated based on the first year’s total annual premium amount payable under your Eligible Policy. The cash amount payable may be indicated as a percentage, fraction, monthly premium value or a cash value. Where a Cashback is offered to you, AFA will pay you a Cashback in accordance with the percentage, fraction, monthly premium value or cash value indicated to you, provided you comply with these Terms.

3.            Special Offer: AFA may also make a “Special Offer” in addition to, or as a substitute for a Cashback, which may comprise an offer to provide goods, services, or credit or vouchers that may be exchanged for goods or services (subject to any additional and/or third-party terms and conditions specific to the use of such credit or vouchers). Where AFA does make a Special Offer, these Terms and any additional terms and conditions communicated by AFA to you will apply.

4.            Other requirements for Cashback and Special Offer: From time to time, AFA may offer a Cashback or Special Offer to you in accordance with these Terms. Any other terms, conditions or requirements applicable to an offer of a Cashback or Special Offer which are made known to you (for example, via email, in the application process or in any advertising) apply in addition to these Terms. A Cashback or Special Offer may be made available only to specific persons (determined at AFA’s sole discretion). In addition, any Cashback or Special Offer will only:

          A.            be available to you if you submit an application for an Eligible Policy and have that policy issued during the period(s) specified by AFA to you, or if not specified, for a limited time (which may be determined by AFA at its reasonable discretion and without notice to you);

          B.            apply in relation to the policies, categories of insurance or to the specific insurers, notified to you by AFA; and

          C.            be available to be claimed where your policy is active (and has not been cancelled by you), which means that you have made at least 3 fortnightly payments (or equivalent) towards your annual premium, and where no more than six months have passed since your policy commencement date.

5.            Exclusions: You are not eligible to receive a Cashback or Special Offer if you:

          A.            have previously taken out a policy through AFA (unless you are taking out additional cover);

          B.            take out a policy through another independent financial adviser after we have connected you with.

6.            Other fees still apply: If you take out an Eligible Policy, unless AFA notifies you otherwise, you will remain liable to pay:

          A.            the applicable premiums, at the amount(s) and interval(s) agreed between you and your chosen insurer; and

          B.            any applicable policy set up fees, payable directly to your chosen insurer.

7.            Cancelled or lapsed policies: If you, within 24 months of receiving a Cashback, do any of the following (i - iii), you must pay $3,000 + GST or return the Cashback in full to AFA, whichever is higher. This clause 7 applies where you:

          i.             cancel your policy;

          ii.            allow your policy to lapse through non-payment; or

          iii.           reduce your level of cover.

AFA reserves the right to take action against you, including (without limitation) the use of collection services, to recover outstanding debts. You are liable for all expenses (including legal fees) that AFA incurs when collecting that debt.

8.            Liability: To the fullest extent permitted by law, AFA shall not be responsible for any loss, damage or injury whatsoever suffered by you in respect of the subject matter of these Terms (including but not limited to any direct, indirect, consequential, special, punitive or incidental loss or damages) and AFA’s liability to you will in all circumstances be limited to the value of the Cashback or Special Offer. For the avoidance of doubt, nothing in these Terms is intended to modify or negate a consumer's rights under the Consumer Guarantees Act 1993.

9.            Privacy: Your information collected by AFA for the purposes of these Terms is held and used by AFA subject to its privacy policy.

Cashback terms

For a limited time, AFA will give you a cashback equal to 3 months of your first year's life insurance, trauma insurance, Total and Permanent Disability insurance, mortgage repayment insurance or income protection premium!

In addition to our standard terms and conditions - when your policy starts, we'll send you a lump sum equal to 3 months of your first year's premium. The cashback is paid on life insurance, trauma insurance, Total and Permanent Disability insurance, mortgage repayment insurance and income protection insurance only and is calculated on the first 12 months' premium, not in subsequent years. The cashback is paid to you by AFA as a one-off lump sum and does not affect the regular premium you pay to your insurer.


Cashback conditions

To be eligible to receive a cashback, you must take out a life insurance, trauma insurance, Total and Permanent Disability insurance, mortgage repayment insurance or income protection insurance policy through AFA between 1st of May 2022 and 30th June 2022, and the policy must commence on or before 30th June 2022. AFA may reduce or extend the Promotional Period at its sole discretion.


No cashback is payable if:

You take out a policy through another independent financial adviser after we have connected you with.

If you are replacing an existing policy with a policy from the same insurer, AFA will only pay a cashback on any increase in premium.

You must have an active policy when you claim your cashback and it must be claimed within 6 months of your policy commencing. If you cancel your policy through AFA, or it lapses through non-payment within 24 months of receiving the cashback, you must return the cashback in full to AFA.


General Claim conditions:
Only one (1) claim may be made per Eligible Product purchased.

AFA NZ may, at any time, take steps to verify the eligibility of any Claimant or the validity of any claim submitted. If AFA NZ reasonably believes that the Claimant is ineligible for the Promotion or that a claim is invalid, AFA NZ may reject the claim and/or pursue the Claimant for any monies already paid to the Claimant. AFA NZ's decision on eligibility and validity is final and no correspondence will be entered into.


This promotion is managed by AFA NZ.  Global Compare Group t/a NZ Compare are not liable for any cashback claims.