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Loan Repayment Insurance

 

Why choose Loan Repayment Insurance?

Help protect you and your family if you’re unable to meet your loan repayments due to involuntary job loss, injury, illness or if you were to pass away.

Loan Repayment Insurance will help provide peace of mind that your home loan, personal loan, or overdraft repayments can be taken care of if you can't take care of them, it means you can focus on the important things in life, right when you need to.
Joint cover can be provided at a reduced premium for the second borrower. Loan Repayment Insurance is optional when taking out a CUA home loan, personal loan or overdraft. Before making a decision whether to purchase this insurance, please read the Product Disclosure Statement>|.

Loan Repayment Insurance

Eligibility

To be eligible you must be:
  • Aged 18 to 57 years at the date of policy commencement
  • Engaged in work and working a minimum of 20 hours per week (not applicable to Life Cover); and
  • An Australian resident

Let's have a chat

There are two ways to claim. You can either:

Contact our Insurance Services team on (07) 3552 4289, Monday to Friday between 8.00am and 5.00pm AEST, to confirm your policy details and obtain a claim form;
or drop into your local CUA branch to arrange for a claim form to be sent to you.

We'll discuss the claims process with you and advise of any documents required to support your claim.

General Insurance Code of practice

Credicorp Insurance and St Andrew's Life are committed to the principles of the General Insurance Code of Practice. This is a self-regulatory Code that aims to raise the standards of practice and service in the insurance 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

Further information about the Code can be obtained from the Insurance Council of Australia at codeofpractice.com.au or from Credicorp Insurance Pty Ltd.

See important information below

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Important information Important information Show content

Any advice contained on this website is general advice only and does not take into account your objectives, financial position or needs (your ‘circumstances’). Before making a decision whether to purchase or to continue to hold this cover, please consider whether any advice is appropriate for your circumstances, as well as the relevant Product Disclosure Statement and Financial Services Guide.

>| Loan Repayment Insurance premium calculated on a loan amount of $15,000 with coverage for 60 months based on monthly repayments with an interest rate of 12.99%p.a. for a single Life, Disablement and Involuntary Unemployment policy with the insured being 28 years old and living in QLD.

Credicorp Insurance proudly supports the General Insurance Code of Practice. We continually strive to deliver great customer service and welcome your feedback. In the event you are not satisfied with our products or services, we have an internal dispute resolution process in place which is explained in our Credicorp Dispute Resolution brochure.

Policy terms, conditions, limits, exclusions and underwriting criteria apply. Credit Union Australia Limited, ABN 44 087 650 959 (CUA) AFSL No. 238317 arranges this insurance under a contract with the insurers.

The Accident and Illness and Involuntary unemployment component of this policy is issued by Credicorp Insurance Pty Ltd ABN 50 069 196 756, AFSL No. 238335 (Credicorp). Credicorp is a wholly owned subsidiary of CUA. CUA does not guarantee or otherwise support the obligations or performance of Credicorp or the products it offers. Neither CUA nor any of its other related companies guarantee the benefits payable under the insurance. All benefits are payable solely by the insurers.

The Life Insurance component is issued by St Andrew’s Life Insurance Pty Ltd (St Andrew’s Life) ABN 98 105 176 243, AFSL No. 281731.