Life Insurance and Consumer Credit Insurance

 

 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.

Important Information

Read our Five-Year Mortgage Repayment Insurance & Loan Cover brochureLoan 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.



Heritage Bank Limited, ABN 32 087 652 024 & AFSL/ACL 240984 arranges this insurance as agent of the insurer Allianz Australia Insurance Limited ("Allianz") ABN 15 000 122 850 AFSL 234708. Allianz is the insurer of the Disability cover (Part 2) and Involuntary Unemployment cover (Part 3) and is only responsible for these covers. Allianz Australia Life Insurance Limited ("Allianz Life") ABN 076 033 782 AFSL 296559 is the insurer of the Death covers (Part 1) and is only responsible for this cover. Allianz acts as Allianz Life's agent in offering and administering the Death Cover.

We do not provide advice on this insurance based on any consideration of your objectives, financial position or need. Policy terms, conditions, limits, exclusions, eligibility criteria and underwriting criteria apply. Before making a decision please consider the relevant Product Disclosure Statement available on our website. If you purchase this insurance, we receive a commission that is a percentage of the premium. Ask us for more details before we provide you with services. Where insurance premium is paid as part of a loan payment, interest will be payable on that premium.




* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.