Loan Insurances
Protect yourself against the unexpected.
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What are Loan Insurances and why you might need them.
Loan insurances are there to cover you and your family financially in the event the unexpected happens and you can no longer meet your loan repayments or pay the balance of your loan. Often without warning your financial situation can change dramatically resulting in excess financial stress and burden during already difficult times, including:
- Accidents, injuries or trauma that leave you unable to work
- Driving restrictions due to medical reason
- Involuntary unemployment
- Self-employed bankruptcy
- ‘Total Loss’ or write-off of your vehicle
- Permanently disability or death
Learn more about the loan insurance types below, or call our Customer Service team on 1300 361 360.
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Types of loan protection insurance available:
Consumer Credit Insurance
Covers your loan repayments if you cannot
Consumer Credit Insurance covers your loan repayments in the event you can not due accident, injury, disability, involuntary unemployment or even death. This type of Insurance is specific to the loan itself and different from Income Protection or Life Insurance. (Please refer to the Product Disclosure Statement for full Terms, Conditions including claim limits).
Loan Termination Insurance
Covers financial shortfall if you need to terminate your loan
Shortfall Insurance