Personal Loan Protection

Seashells, wedding bells, new car smell. Whatever your personal loan is for, you can enjoy it more knowing there's  help to cover your repayments just in case.

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    It'll take just a few minutes

    Apply now
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    132 651

    8am-8pm, 7 days a week 

Essentials

Personal loans are a great lifestyle convenience. But if you become sick or injured and can’t work or suddenly lose your job, that debt could quickly get out of control.

Having Personal Loan Protection to help cover your repayments means you’ll have one less thing to worry about:

  • Get your monthly repayments paid for up to 90 days if you unexpectedly lose your job (subject to a 14 day waiting period)
  • Get your monthly repayments paid while you’re sick or injured and can’t work1 (subject to a 30 day waiting period)
  • Have any balance owing paid off up to $100,000 if you pass away (so loved ones aren’t left with this debt)
  • You can claim even if entitled to benefits from another source, such as workers compensation, sick leave or Centrelink.

Of course, like all insurance, some exclusions, limits and conditions apply. For example, if you voluntarily resign or accept a voluntary redundancy your aren’t covered for job loss. Also, if you were not working at least 15 hours or more per week when you became unfit for work, you  will  not be covered.

Personal Loan Protection is easy to arrange

  • Simply add the insurance when applying for a Westpac Personal Loan
  • No medical examination required to apply1
  • You don’t pay more because of age, job, or health record.

1. Please note:  An exclusion applies for sickness, injury or disease occurring within 180 days of the commencement date for which you sought or obtained medical advice or treatment during the 180 days prior to the commencement date.

  •  

    Get started online

    It'll take just a few minutes

    Apply now
  •  

    Call

    132 651

    8am-8pm, 7 days a week 

Things you should know
  • Personal Loan Protection is issued by the insurers who are Westpac General Insurance Limited ABN 99 003 719 319 (WGIL) (who issues the unfit for work cover and the job loss cover) and Westpac Life Insurance Services Limited ABN 31 003 149 157 (WLIS) (who issues the death cover). This insurance is distributed by Westpac Banking Corporation ABN 33 007 457 141 (the Bank). The Bank does not guarantee payments under the policy.

    This information does not take into account your personal circumstances. Like all insurance, some exclusions, limits and conditions apply. Before making a decision about this insurance, read the Personal Loan Protection Product Disclosure Statement (PDS) (PDF 132kb) for the full terms and conditions and to see if Personal Loan Repayment Protection is right for you. 

Features

Personal Loan Protection is optional and is available when you apply for our personal loans.

Personal Loan Protection will help pay your personal loan repayments if you:

  • Lose your job
  • Become unfit for work due to sickness, injury, or disease
  • Die, it will pay the balance owing on your personal loan up to $100,000. 

Other benefits

  • 25% discount for two joint borrowers
  • No medical examination required when applying
  • You don’t pay more because of your age, job, or health record
  • You can claim even if you are entitled to benefits from another source, such as workers compensation, sick leave or Centrelink.
  •  

    Get started online

    It'll take just a few minutes

    Apply now
  •  

    Call

    132 651

    8am-8pm, 7 days a week 

Things you should know
  • Personal Loan Protection is issued by the insurers who are Westpac General Insurance Limited ABN 99 003 719 319 (WGIL) (who issues the unfit for work cover and the job loss cover) and Westpac Life Insurance Services Limited ABN 31 003 149 157 (WLIS) (who issues the death cover). This insurance is distributed by Westpac Banking Corporation ABN 33 007 457 141 (the Bank). The Bank does not guarantee payments under the policy.

    This information does not take into account your personal circumstances. Like all insurance, some exclusions, limits and conditions apply. Before making a decision about this insurance, read the Personal Loan Protection Product Disclosure Statement (PDS) (PDF 132kb) for the full terms and conditions and to see if Personal Loan Repayment Protection is right for you. 

How to claim

Lodging a claim is simple

 

Information needed when initially making a claim

Job loss claims
  • A completed claim form
  • If you were employed by someone else - an employment separation certificate or a letter from your previous employer stating your period of employment, the reason your employment finished, and your employer’s name and contact details
  • If you were self-employed or in a business partnership - documentation which satisfies the insurer of your loss of employment.
Unfit for work claimsA completed claim form, which your medical practitioner also needs to complete and sign.
Death claimsA certified copy of the original death certificate (a claim form isn't required).

What happens after you claim?

You'll be contacted within 10 working days to either:

  • Confirm if your claim has been accepted, or
  • Request additional information to help reach a decision on your claim.

Need claim help?

If you have any questions, or would like help completing the claim form, call 1300 369 989, 8.45am-5pm, Mon-Fri.

  •  

    Get started online

    It'll take just a few minutes

    Apply now
  •  

    Call

    132 651

    8am-8pm, 7 days a week 

Things you should know
  • Personal Loan Protection is issued by the insurers who are Westpac General Insurance Limited ABN 99 003 719 319 (WGIL) (who issues the unfit for work cover and the job loss cover) and Westpac Life Insurance Services Limited ABN 31 003 149 157 (WLIS) (who issues the death cover). This insurance is distributed by Westpac Banking Corporation ABN 33 007 457 141 (the Bank). The Bank does not guarantee payments under the policy.

    This information does not take into account your personal circumstances. Like all insurance, some exclusions, limits and conditions apply. Before making a decision about this insurance, read the Personal Loan Protection Product Disclosure Statement (PDS) (PDF 132kb) for the full terms and conditions and to see if Personal Loan Repayment Protection is right for you.