Loan Repayment Insurance

Home Loans or Personal loans are often long term commitments, so it makes sense to protect them with Loan Repayment Insurance.

Loan Repayment Insurance provides you with the peace of mind that if an unfortunate event, such as your death, sickness and accident or trauma occurs, your assets will be safe and your loan repayments will be taken care of

Key Features

  • Cover applies 24 hours a day, 7 days per week
  • CashAssist / Trauma benefit up to $50,000
  • Disability benefit up to $3,500 per month
  • Death benefit up to $500,000

Policy Cover

There are three types of cover available. You can choose one, a combination of two or all of these benefits with your cover:

CashAssist trauma cover

If you suffer a trauma, the insurer will pay to you the amount you nominate in the application up to $50,000.^

Disablement and Hospitalisation cover

If you are unable to work because you have suffered an injury or sickness, the insurer will pay your repayments as shown on your policy schedule up to $3,500 per month:

  • For the first 12 months you are continuously unable to perform the duties of an occupation for which you are reasonably qualified by education, training or experience (excluding the first 21 days)
  • After the first 12 months that you are unable to engage in or attain any gainful occupation (to a maximum of 30 months)

And, even if your loan repayment reduces at some stage, you’ll still be paid the original amount you selected.
If you are hospitalised due to illness or injury, the insurer will pay your loan repayment up to $3,500 per month for a maximum of 3 months. During the period you are hospitalised the insurer will pay up to $6,000. ^

Life cover

In the event of death the insurer will pay the outstanding balance of your loan contract at the date of death.^

Involuntary Unemployment

Should you become involuntarily unemployed, we'll provide you with temporary assistance while you're in search of employments.  We will pay your loan repayment up to $3,500 per month for a maximum of 180 days.  One claim can be made in any 12 month period. During the term of the policy we'll pay up to $10,500.

Want to learn more?

The above information is a summary of the cover provided by the policy. For detailed information on the cover and limits provided you should read the Policy Document below (Product Disclosure Statement).

Essential Cover  Loan Repayment PDS

Questions?

If you have any questions, please contact us

Note: this form is provided in .pdf format and requires version, 4.0 (or later) of Adobe Reader. You can download Adobe Reader by clicking on the "Get Adobe Reader" button below.


Information about our underwriters

Swann Insurance is one of Australia's largest niche insurers. The Company has over half a million policyholders, generates gross written premiums of over $200 million a year, and has a network of over 1,500 representatives and business partners. Swann is part of Insurance Australia Group - Australasia's leading general insurance group. Loan Repayment (Consumer Credit) Insurance issued by Swann Insurance (Aust) Pty Ltd. (Swann) ABN 80 000 886 680 AFS License No. 238292, an IAG Company. Swann administer the Life and CashAssist components of Loan Repayment Insurance for The National Mutual Life Association of Australasia Ltd. ABN 72 004 020 437 AFS Licence No. 234649. A Product Disclosure Statement (PDS) for Loan Repayment Insurance is also available at our Branches. We will give you a PDS on application which you should read and consider in deciding whether to use any product. If you purchase Swann Loan Repayment Insurance (Consumer Credit Insurance), South West Credit Limited may be paid a commission of up to 20% of the premium.