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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.
Premium examples
If the balance owing at the end of your  Flexi Loan statement cycle is The monthly premium is
Nil Nil
$4,000 $12.00
$10,000 $30.00
$15,000 $45.00
$25,000 $75.00

How to claim

Lodging a claim is simple

Information needed when initially making a claim

Job loss claims
  • A completed Unemployment/Job Loss 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 claims
  • A completed Unfit for Work claim form, which your medical practitioner also needs to complete and sign.
  • Documentation confirming the number of hours you worked in the 28 days before you stopped working, for example, payslips, invoices, or a letter from your employer or the company you were working for at the time.
Death claims A 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 AEST/AEDT)

Things you should know

Flexi Loan Repayment Protection Product Disclosure Statement (PDF 120KB)

Unemployment Job Loss Claim Form (PDF 128KB)

Unfit For Work Claim Form (PDF 120KB)

Flexi Loan Repayment Protection is issued by Westpac General Insurance Limited ABN 99 003 719 319 (WGIL) and Westpac Life Insurance Services Limited ABN 31 003 149 157 (WLIS) each of which is liable for separate risks under the terms of the policy. This insurance product is distributed by Westpac Banking Corporation ABN 33 007 457 141 (the Bank). The policy is not an investment in or deposit with the Bank. No Westpac Group company (other than the Bank as policy distributor and WGIL and WLIS as the product issuers) has any liability in connection with the policy or this document. The Bank does not guarantee payments under the policy.

Before making a decision about this insurance, read the Flexi Loan Repayment Protection Product Disclosure Statement (PDS) (PDF 120KB) for the full terms and conditions and to see if Flexi Loan Repayment Protection is right for you.