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Loan protection insurance

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A change in your health or loss of your income can leave you struggling to make your loan repayments. Loan repayment insurance protects you against the unexpected by paying some or all of your loan payments.1

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CUA offers two loan repayment insurance options:

  • Credicover Loan Repayment Insurance2 provides cover for personal loans and overdrafts up to $50,000.
  • Essential Cover Loan Repayment Insurance3 provides cover for mortgage loans and revolving credit facilities up to $500,000.

Features

Loan repayment cover

  • If you can’t work due to sickness or an accident
  • If you become involuntarily unemployed
  • If you suffer a medical trauma (e.g. a heart attack)

Loan cover

  • In the event of your death, the life cover component of the policy will repay your outstanding loan balance.

For more information, please call 133 282 between 8am and 8pm AEST Monday to Friday or 8am to 4pm Saturday, or visit your local CUA branch.

General Insurance Code of Practice

Credicorp Insurance is committed to the principles of the General Insurance Code of Practice, which is about caring for customers and promoting good relations between insurers, agents and consumers.

The Code aims to raise the standards of practice and service in the industry by:

  • Ensuring material is written as clearly as possible so that you, the consumer, can more easily comprehend the policy and associated documentation
  • Improving training and supervision to ensure a high standard of people representing insurers
  • Providing a pathway for effective claims handling and dispute resolution.

For more information regarding the General Insurance Code of Practice and our dispute resolution procedure please view our General Insurance Code of Practice and Dispute Resolution Procedure brochure.

1 Loan repayment insurance is optional, although recommended. Loan repayments will be made for you (either in part or in full). Cover is also available for joint borrowers. Eligibility conditions may apply.

2 Credicover Loan Repayment Insurance is issued by Credicorp Insurance Pty Ltd ABN 50 069 196 756 AFSL No. 238335. The disability and involuntary unemployment component of this policy is underwritten by Credicorp Insurance Pty Ltd ABN 50 069 196 756 which is a wholly owned subsidiary of Credit Union Australia Ltd ABN 44 087 650 959 AFSL and Australian credit licence 238317. The Life Insurance component is issued by arrangement with CGU Insurance Limited ABN 27 004 478 371 AFSL No. 238 291 (“CGU”). CGU holds an insurance policy issued by The National Mutual Life Association of Australasia Ltd ABN 72 004 020 437 AFSL No. 234 649 (NMLA), a member of AMP Group on trust for Credicorp Insurance Pty Ltd customers. Before making a decision on this product you should read the product disclosure statement and policy wording for Credicover Insurance. You can obtain a copy of the PDS by contacting Credicorp Insurance Pty Ltd on 07 3365 0289.

3  Essential Cover Loan Repayment Insurance is issued by CGU Insurance Limited ABN 27 004 478 371 AFSL No. 238291 (“CGU”). Life and cash assist components are underwritten by The National Mutual Life Association of Australasia Ltd ABN 72 004 020 437 AFSL 234649, a member of AMP Group. Before making a decision on this product, you should read the relevant product disclosure statement. You can also obtain a copy of the PDS by contacting CGU.

    Call 133 282

    Monday to Friday
    8:00am - 8:00pm (AEST)

    Saturday
    8:00am - 4:00pm (AEST)

    Find a rediATM, branch or Mobile Banker