Financial Hardship

Resilience is dedicated to helping its clients who are going through financial hardship. We are aware that it could occasionally be hard for you to fulfil all of your financial obligations due to uncontrollable circumstances.

The term “financial hardship” describes your inability to pay your insurance premiums on time.

Resilience Insurance can help clients who are eligible for assistance in the following circumstances:

• an individual insured or a third-party beneficiary who owes the insurer money (including excess payments), under an insurance policy issued by the insurer;
• an individual that the insurer is seeking to recover money from because the insurer believes such individual caused damage or loss to either an individual insured, or a third-party beneficiary it covers under an insurance policy; and
• where a client makes a claim under their policy due to an event that has caused them to also be in Financial Hardship and urgent financial need of the benefits they are entitled to under their policy.

To note: Support does not apply to unpaid general insurance premiums issued by the insurer.

Where you may require financial hardship support, Resilience Insurance will assist you by:

• Directing you to your specific insurer’s Financial Hardship policy;
• Notifying the insurer on your behalf as soon as practicable after becoming aware that you are experiencing financial hardship; and
• Act on any insurer instructions to put any action to recover an amount from you on hold pending the outcome of the application for financial hardship support.

In the event that an insurer finds you qualify for financial hardship help for a debt, they will work with you to figure out a payment plan that may include a payment extension, installment payments, or a reduced lump sum payment.

You have the option to file a complaint with the insurer if you are dissatisfied with any part of the application procedure or if you are unable to come to an agreement with them regarding Financial Hardship support.

You will have access to information from the insurer regarding the complaint’s procedure.