Loan Protection Insurance
Covering your commitments if the unexpected happens
There are all sorts of reasons you might want to borrow money. It could be for a new car, a boat, to consolidate debt, or for a much needed holiday. And even though repaying the loan is a significant medium or long-term commitment, it’s one you’ll have weighted up and are ready for.
What you may not be so prepared for are the unforeseen events life can deal us – accidents, illness, or involuntary unemployment – all of which bring pressure and uncertainty. Covering any loss of income and additional expenses they cause would be bad enough, without worrying about the burden of loan repayments as well.
Competitive, convenient cover backed by QBE
Loan Protection Insurance is one of a comprehensive range of insurance solutions South West Credit offers through our association with QBE Insurance.
Founded in 1886, QBE is one of Australia’s leading insurers. It’s because of QBE’s experience, security and strength – as well as its prompt, efficient and friendly claims service – that we’ve made it our exclusive general insurance provider.
This partnership enables us to deliver South West Credit members great value and quality insurance products, with all the convenience of still keeping your finances under the same roof.
A choice of cover options
Depending on your own circumstances and dependents, you can tailor your Loan Protection policy to provide cover in a range of situations.
In the event of your death, the outstanding balance of your loan will be paid in full, up to a maximum of $100,000.
You are automatically covered up to $10,000 in the event of major diagnosed diseases and conditions, including chronic kidney failure, heart attack, coronary artery surgery, stroke, major organ transplant and cancer. It’s not a loan repayment, but an additional benefit proportionate to the amount of cover you select. You may elect to increase this cover to a maximum of $50,000.
If you become unable to work due to illness or injury, this ensures your monthly loan repayments will be met.
Should you involuntarily lose your job, this cover provides loan repayments, up to a maximum $7,500.
|Read more about the benefits of Loan Protection Insurance|
Sign up now, with flexible payment options
With South West Credit, you can arrange both your loan and loan insurance at the same time, giving you one less thing to worry about.
For convenience, your premium can be included in your loan repayments. Or, you can pay up front, whatever suits you best.
© 2012 South West Credit Union Co-operative Limited | ABN 44 087 651 705 | AFSL / Australian Credit Licence 241 258 | BSB 803 073