a+ a-

Loan Protection Insurance

Attention: open in a new window. Print

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 weighed 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.

Key Features
  Benefit Main Conditions
Life Cover In the event of your death, pays the outstanding balance of your loan, including any arrears in monthly repayments up to two (2) months at the date of death, and less a rebate of charges. Cover available up to a maximum of $100,000
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.
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 $100,000
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 period of insurance is $7,500

More Information

Questions?

If you have any questions, please contact us Enquire Now

 

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 available at www.fccs.com.au 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 ING Life Limited ABN 33 009 657 176 AFSL 238341 for Life and Trauma.