Mortgage Protection Insurance

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Mortgage Protection Insurance is one of a comprehensive range of insurance solutions South West Credit offers through our association with QBE Insurance.

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  A new roof over your head? Cover your home loan at the same time:

A nest, a castle, a crash pad or a retreat? A new home represents something different to everyone. And for nearly all of us, it will become one of our most significant assets and a long term commitment

Even if you are refinancing or topping up your current mortgage, there’s a fair amount of stress, involved in taking on the responsibility. Plus we all know that, sometimes the unforeseen or unexpected can happen in our lives, and it is good to have some peace of mind.

A choice of cover options

Depending on your own circumstances and dependents, you can tailor a Mortgage Protection policy to provide cover for a range of situations.

  Life:

In the event of your death, the current balance of your mortgage will be paid.

  Trauma:

You are automatically covered up to $10,000 in the event of major diagnosed diseases and conditions occurring to you, such as chronic kidney failure, heart attack, coronary artery by-pass surgery, stroke, major organ transplant and cancer. It’s a payment to you and you may elect to increase this cover to a maximum of $50,000.

  Disability:

For each day you are unable to work due to illness or injury, Disability cover will pay to your Financial Institution 1/30th of your minimum monthly repayment until you are able to return to work. The maximum amount QBE will pay under this cover is $200,000.

  Involuntary Unemployment:

Should you involuntarily lose your job, for each day you are unemployed, Involuntary Unemployment cover will pay to your Financial Institution 1/30th of your minimum monthly repayment for up to 120 days or until you return to work, whichever occurs first. The maximum amount QBE will pay under this cover is $15,000

  Learn more about the benefits of Mortgage Protection Insurance:
Cover Benefit Main Conditions
Life Cover In the event of your death, pays the current balance of your mortgage Cover available up to a maximum of $500,000
Trauma Cover Pays the amount of cover selected by you in the event of positive diagnosis of any of the listed diseases such as chronic kidney failure, heart attack, coronary artery by-pass surgery, stroke, major organ transplant and cancer. Automatic cover of $10,000. You may elect to increase cover in multiples of $5,000 up to $50,000. Waiting period of 90 days
Disability Cover For each day you are unable to work due to illness or injury, Disability cover will pay to your Financial Institution 1/30th of your minimum monthly repayment until you are able to return to work. Maximum payable regardless of number of claims made during the period of insurance is $200,000 Waiting period of 30 days
Involuntary Unemployment Cover Should you involuntarily lose your job, for each day you are unemployed, Involuntary Unemployment cover will pay to your Financial Institution 1/30th of your minimum monthly repayment for up to 120 days or until you return to work, whichever occurs first. Maximum payable regardless of number of claims made during the period of insurance is $15,000. Waiting period of 30 days
  Competitive, convenient cover backed by QBE:

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.

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 by cash, cheque, credit card, or in monthly instalments – Whatever suits you best.

  Additional Information:

Important Notes
Terms, conditions and acceptance criteria apply. Cover limits and waiting periods apply as set out in the policy wording. This material does not take into account your personal needs, objectives and financial circumstances and you should consider whether it is appropriate for you. Please read the Product Disclosure Statement to decide if a product is right for you.
Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239545 for Disability and Involuntary Unemployment and OnePath Life Limited ABN 33 009 657 176 AFSL 238341 for Life and Trauma.