Loan protection insurance
Loan protection insurance lets you hand your vehicle back to insurer and/or 6 months payment relief. A total benefit of up to $15,000 in case of below events.
- Cover for up to 8 separate unexpected life events:
- Involuntary unemployment
- Driving restrictive medical condition
- International job transfer
- Accidental death
- 3 levels of cover available
- Standard (Cover Level 3)
- Standard (Cover Level 3)shorter Loan term option
- Premium (Cover Level 2)
- Ultimate (Cover Level 1)
- Ultimate (Cover Level 1)shorter Loan term option
- Shortfall gap cover:
- Additional monthly payment option* up to 6 months in the event of involuntary unemployment or disability (including mental illness).
- Cancel any time
- Additional benefits
What’s in it for you?
- Complete peace of mind for most life or unemployment events - should the unexpected occur.
- Flexibility to choose what’s best for your personal and financial circumstances.
- Freedom to return your vehicle and cover any loss totally or partially.
- Don’t be afraid of losing your vehicle - have loan payments made for you for up to 6 months depending on level of cover.
- Changed your mind? You are not locked in – cancel the policy at any time and you will be refunded the unused portion.
- Identity theft cover applies for 12 months from the commencement of your policy.
What you need to know
- Cover available for full term of loan, with one up front flat rate premium – no annual renewal.
- For loan terms less than 36 months 2options of covers available(Trauman not included).
For Loan terms of 36 monthsand over 3 options of cover available.
- Maximum cover $15,000*
- Time to choose - even if you select additional monthly payment option, you still have the option to return your car.
- Refund worked out on remaining period of cover, less any charges in accordance with relevant legislation.
- Refer to the relevent PDS for full terms and conditions.
*Conditions apply. Please see the TAINS PDS document found as a link on the email for further details.
The insurance featured in this document is issued by AVEA Insurance Limited ABN 18 009 129 793 (AFSL 238279).
This document may contain general financial advice which does not take into account your personal finance circumstances. Please consider the relevant Product Disclosure Statement available from AVEA before making any decision about the insurance product featured in this document.
^Loan Protection Insurance refers to TAINS Loan Termination Insurance (LTI).
#References to loan are generic in nature and cover finance arrangements under a Lease or a Car Loan