Westpac hotpoints World Mastercard insurance: what does the 120-day cover really pay?

Covers the non-refundable part of your prepaid travel and accommodation with no dollar cap for travellers up to 74, if the journey is cancelled, changed or cut short by an unforeseeable event outside your control. Hotpoints redeemed for a flight that has to be cancelled are paid back as an equivalent class ticket or replacement points, once the provider has refused to refund them, and licensed travel agent cancellation fees are paid up to $500 per family. From 75 to 90 the limit drops to $5,000 per person and $10,000 per family, and a $200 excess applies per claim event.

Unlimited overseas medical, surgical, hospital, ambulance and nursing costs for travellers up to 74, after a $200 excess per claim event. From 75 to 90 there is no overseas medical cover unless paid Mature Age Cover is bought, and from 91 the policy gives no cover at all without an assessment. Costs caused by a terrorist act are capped at $100,000, and up to $1,000 of follow-up treatment in New Zealand is paid.

Medical evacuation to another location and repatriation to New Zealand sit inside the unlimited overseas medical benefit for travellers up to 74, and AIG organises them itself. Travel Guard, AIG's 24/7 assistance service, has to approve the move before anything is arranged. If a traveller dies on the trip, returning the remains to New Zealand or a local funeral is paid up to $12,500 per person and $20,000 per family.

Emergency dental treatment overseas is paid inside the unlimited overseas medical benefit for travellers up to 74, with no separate dental sub-limit. It only covers the relief of sudden and acute pain, and the $200 excess applies.

Pays a $55 bed care allowance for each full 24 hours you are confined to an overseas hospital bed, up to $5,500 per person and $11,000 per family. It is meant for incidental costs such as phone calls, TV hire or magazines, and only applies to travellers up to 74.

Unexpected extra travel and accommodation costs are covered with no dollar cap for travellers up to 74 when an injury, illness or death, or another unforeseeable event outside your control, forces you to change or cut short the journey. It also pays when a carrier is delayed or cancelled by a natural disaster, bad weather, a riot or a strike. From 75 to 90 the cap is $10,000 per person and $20,000 per family, and a $200 excess applies.

If your scheduled carrier is delayed for 6 hours or more for reasons outside your control, reasonable meal and accommodation costs are paid up to $275 per person and $600 per family. A further $275 per person is paid for each extra full 12 hours, up to $825 per person and $1,800 per family for one delay.

If the purpose of the trip is a wedding, funeral, conference or sporting event that cannot be moved, and something unexpected interrupts your itinerary, the extra cost of alternative public transport to arrive on time is paid up to $3,000 per family. A $200 excess applies.

If a relative dies and you have to cut the trip short, the card pays an economy flight home to New Zealand and another one back out to resume the journey, up to $6,000 per person and $10,000 per family. You must restart within 30 days, with at least a fortnight or a quarter of the trip still to go. A serious illness in the family is handled under unexpected travel and accommodation instead.

If an airline or other carrier delays or misplaces your checked luggage for more than 12 hours, emergency essentials are paid up to $500 per person and $1,000 per family. The amount is deducted from any later claim if the bag is never found.

Accidental loss of or damage to your luggage and personal effects is covered up to $12,500 per person and $20,000 per family, with a $3,000 limit for any one item and laptops capped at $6,000 in total. AIG can repair, replace or pay cash after depreciation, and you can nominate a high-value item for up to $10,000 at travelactivate.co.nz before leaving.

Replacing lost or stolen travel documents, credit cards, travellers cheques and cash taken on the journey is covered up to $550 per person and $1,000 per family. A separate $550 per person covers your liability for fraudulent use of stolen travel documents or cards.

Covers your legal liability if your negligence during the journey injures someone or damages their property, up to $2,500,000 per family for all claims from one event, legal costs included. AIG has to consent to the costs and a $200 excess applies.

Pays $100,000 to the cardholder's estate if an accident on the journey causes death within 12 months, $50,000 for an accompanying spouse and $5,000 for each dependent child, up to $150,000 per family. A separate common carrier benefit pays the same sums, plus partial amounts for loss of limbs or sight, when the accident happens on a plane, bus, train or vessel whose full fare was paid with the card.

Pays up to $1,100 a week for up to 13 weeks, with a maximum of $14,300 per person and $22,000 per family, if an accident overseas leaves you unable to go back to your normal work in New Zealand. The first 30 days after your planned return to work are not paid, and travellers aged 75 or over are not covered. Exclusion 10.4 removes any injury covered by ACC (the Accident Compensation Act 2001), and ACC may cover a New Zealand resident's injury overseas once back home, which makes this benefit much weaker for New Zealand residents.

No domestic cancellation cover. This benefit is not included with this card, which only insures overseas journeys. Prepaid domestic flights and accommodation, such as a Queenstown ski week, are not reimbursable if you cancel.

No domestic delay cover. This benefit is not included with this card. Meals and accommodation during a delayed or cancelled domestic flight are the cardholder's responsibility.

No domestic disruption cover. This benefit is not included with this card. Extra accommodation and transport after a disruption on a trip within New Zealand are out of pocket.

No domestic luggage cover. This benefit is not included with this card. Lost or stolen luggage on a trip within New Zealand is not reimbursable through this card.

No domestic bag delay cover. This benefit is not included with this card. Essentials bought while your bag is delayed on a domestic flight are out of pocket.