Loan and Repayment Cover

Loan Protection Insurance is designed to help with your loan repayments in the event an unforeseen event occurs, such as your death, disability or involuntary unemployment. There are two types of insurance to choose from based on your loan.

Loan Cover Insurance

Cover for your personal loan repayments up to the policy limits. Depending on the cover you apply for, key features include:

  • Cover for 24 hours a day; 7 days a week
  • A death benefit of up to $80,000
  • A monthly disability benefit
  • Involuntary unemployment benefit:
    • for up to 120 days per claim; or
    • up to $10,000 for any one policy period, whichever occurs first.
Five Year Mortgage Repayment Insurance

Cover for your home loan repayments up to the policy limits. Depending on the cover you apply for, key features include:

  • Cover for 24 hours a day; 7 days a week
  • A death benefit of up to $750,000
  • A monthly disability benefit for up to 24 months
  • Involuntary unemployment benefit:
    • up to a maximum of $3,000 per month for up to 120 days per claim: or
    • up to a maximum of $10,000 in any one policy period, whichever occurs first.
Insurance Comparison

Cover Type Benefit Payment Type Insured Events Possible purposes
5 Year Mortgage Repayment Insurance Monthly mortgage repayments Death, Disability, Involuntary Unemployment To assist the insured with their mortgage repayments in the event the insured becomes disabled or involuntary unemployed. Pay out loan balance in the event of death (subject to limits)
Loan Cover Insurance Monthly loan repayments Death, Disability, Involuntary Unemployment To assist the insured with their personal loan repayments in the event the insured becomes disabled or involuntary unemployed. Pay out loan balance in event of death (subject to limits)
Important Information

Read our Five-Year Mortgage Repayment Insurance & Loan Cover brochure, Loan Cover Insurance Product Disclosure Statement and Five-Year Mortgage Repayment Insurance Product Disclosure Statement for more detailed information. It is important that you understand that this insurance is optional and you can only purchase this insurance if you have a loan. Please note you are entitled to a 30-day cooling off period should you change your mind about this insurance once you have purchased.
These articles may help you

We are here to help

Our specialists will help you find the right product and support you through every step of the purchase.

Enquire now

Or call 13 14 22 to speak to an expert