Optional Loan Protection Insurance Cover
(for personal/car & home loans)
 Allianz Loan Cover Policy
Allianz 5 Year Mortgage Repayment Policy
Why do I need this cover?
Peace of mind and added security! This insurance provides a simple way to ensure your loan repayments are made even if something happens to you – in the event of your death or if you are injured in an accident or get sick and are unable to work. You are covered worldwide, 24 hours a day, and your loan repayment will be made for you irrespective of whether you are receiving sick pay, workcover or unemployment benefits.
How does it work?
If you are sick or have an accident and are off work the minimum monthly repayments will be met to the maximum policy benefit, until you return to work or the policy expires. In the event of your death the policy pays the outstanding to the relevant cover chosen.
When does the cover start?
Immediately the policy is issued.
Who can apply?
Any member in permanent and gainful employment and not over 60 years of age at the time of taking the loan is eligible. No medical is required.
What will it cost?
With personal or short term loans your premium is a single payment covering the full term of the loan which may be added to your loan or paid in lump sum. For Mortgage Loan Protection Insurance quotations please consult Police Credit to obtain further information. The cost of this cover can be obtained by speaking to one of our Member Service Officers.
What if I repay my loan early?
If you pay your loan early, a proportional rebate of premium paid will be paid on your request. You only pay for the period for which you require cover.
How do I arrange for protection?
If you wish for your loan to be protected, please ask Police Credit to arrange cover and forward all relevant documents to you. The full policy wording contains some exclusions and we want you to be happy before the policy is issued. Please consult Police Credit to obtain further information.
This product is issued either by Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFSL 234708, Allianz Australia Life Insurance Limited (Allianz Life) AFS Licence No. 296559 ABN 27 076 033 782 or Swann Insurance (Aust) Pty Ltd ABN 80 000 886 680 AFSL 238292. Allianz acts as Allianz Life’s agent in offering and administering the Part 1 – Death cover. Police Credit provides consumer credit insurance products as an agent for Allianz and Swann Insurance. A Product Disclosure Statement and Insurance Policy (PDS) is available from Police Credit. Please refer to the PDS in deciding whether the consumer credit insurance product is appropriate for you. This is general advice only and does not take into account your individual objectives, financial situation or needs (‘your personal circumstances’). Before using this advice to decide whether to purchase this insurance policy, you should consider the appropriateness of it having regard to your personal circumstances, plus obtain and consider the current PDS for the insurance policy.
|