What does Personal Loan Protection cover?
It’s important to understand when and how your Personal Loan Protection policy can help support you if you suddenly lose your job, or get sick or injured and can’t work.
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It’s important to understand when and how your Personal Loan Protection policy can help support you if you suddenly lose your job, or get sick or injured and can’t work.
Yes, you can make a claim even if you’re eligible for benefits from somewhere else such as workers’ compensation, sick leave or Centrelink benefits.
Your policy will help cover your monthly loan repayments:
Subject to the exclusions set out below.
The date your policy would actually start making your repayments depends on when you make your claim, when it’s accepted and your situation.
Insured event | Benefit |
---|---|
If you're unfit for work |
|
If you lose your job |
|
If you pass away |
|
There are a few other exclusions that apply to each type of claim which are generally common sense. For example, if you voluntarily resign you won't be covered. These are listed below.
Insured event | Benefit |
---|---|
If you're unfit for work |
|
If you lose your job |
|
If you pass away |
|
Personal Loan Protection was issued by Westpac General Insurance Limited ABN 99 003 719 319 (for the unfit for work cover and the job loss cover) and Westpac Life Insurance Services Limited ABN 31 003 149 157 (for the death cover). This insurance was distributed by Westpac Banking Corporation ABN 33 007 457 141 (the Bank). The Bank does not guarantee payments under the policy. Like all insurance, some exclusions, limits and conditions apply. You can obtain the relevant Product Disclosure Statement by calling 1300 369 989.