Mortgages or loans are often long term commitments, so it makes sense to protect them with Loan Insurance.
Loan Insurance provides you with the peace of mind that if an unfortunate event, such as your death, disability, involuntary unemployment or trauma occurs, your assets will be safe and your loan repayments will be taken care of.
Through our arrangement with CUNA Mutual Group we can offer you fantastic coverage with two main benefits.
You can choose one or both of these benefits with your cover:
There are two additional benefits available in conjunction with the disability benefit:
In the event of death, the insurer will pay the outstanding balance of your loan contract at the date of death (excluding any loan repayments two months or more in arrears), to a maximum of $250,000. ^
If you are unable to work because you have suffered an injury or sickness, the insurer will pay your repayments as shown on your policy schedule, for each payment period that you are disabled provided that:
- The disability continues for at least 15 consecutive days from the date you first seek medical attention for the injury or sickness which causes the disability; and
- The monthly benefit is no more that $1,500. ^
Involuntary Unemployment Benefit
If you are unable to continue your permanent employment as a direct result of involuntary dismissal or retrenchment by an employer, the insurer will pay the repayment as shown on your policy schedule, to a maximum of $1,500 per month after the 14 day waiting period for each period of involuntary unemployment you experience. Involuntary unemployment benefit up to $5,000^
If you suffer a trauma, the insurer will pay to you the lesser of the amount you nominate in the application and the outstanding balance of your loan contract at the date you suffered the trauma. You may nominate a figure from $10,000 to $50,000 (in multiples of $10,000). Only one claim will be paid during the period of insurance and no claim will be payable in the first 90 days of cover. ^
Download our application form and fax it to us on (02) 9246 2018.
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MemberCare Loan Insure Application Form |
Download our Loan Insurance Product Disclosure Statement
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Product Disclosure Statement - Loan Insurance |
More Information
To obtain more information or a quote please contact us. 
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