Flexi loan repayment protection

A Westpac Flexi Loan is 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 Flexi Loan Repayment Protection to help cover your repayments means you’ll have one less thing to worry about:

• Get up to 3% of your balance owing paid each month, if you unexpectedly lose your job, for up to 180 days or until you return to work, whichever happens first
• Get up to 3% of your balance owing paid each month, while you’re sick or injured and can’t work
• Have the balance owing paid off up to $75,000 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
• You don’t pay more because of age, job, or health record.

Of course, like all insurance, some exclusions, limits and conditions apply. For example, if you voluntarily resign or accept a voluntary redundancy you 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. 

Flexi Loan Repayment Protection is easy to arrange

• Simply add the insurance when applying for a Westpac Flexi Loan
• No medical examination required to apply¹.

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 180 days prior to the commencement date.

The lower your balance, the less it costs

Flexi Loan Repayment Protection costs 30 cents for every $100 owing on your monthly balance, and is:

• Calculated on the balance owing at the end of each statement cycle when your monthly statement is produced
• Automatically added to your Flexi Loan balance each month.
   

Lodging a claim is simple

• For Unemployment and Job Loss claims, download the Unemployment/Job Loss Claim form (PDF 130KB) or complete the Online Unemployment/Job Loss Claim form
• For Unfit for Work claims, download the Unfit for Work Claim form (PDF 138KB)
• Alternatively, you may visit a branch to collect and lodge a claim form.

Information needed when initially making a claim
 

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 AEST/AEDT)