Consumer Credit Insurance

Consumer Credit Insurance products protect you against the risk of being unable to meet their loan repayments as a result of death, trauma, disability or involuntary unemployment. Consumer Credit Insurance products are not compulsory and in all cases can only be taken as part of a loan package.

Consumer Credit Insurance products are designed to provide customers with protection and peace of mind knowing that if the unforeseen happens, their repayments will be made in those circumstances which are covered.

There are three types of cover available under these products:

Trauma and Death Cover

Trauma and Death cover pays the net balance under a customer's loan agreement in the event of your death or if you are diagnosed with one of the following specified traumas during the period of cover Cancer, Coronary artery, bypass surgery, Heart attack, or Major stroke. The maximum amount payable under this policy cover is the outstanding balance of a customer's loan up to a maximum of $100,000.

Disability Cover

Disability cover pays your loan repayments due under their loan agreement in the event that you become totally disabled for longer than the elimination period, subject to the policy's limits. Payments will start from the end of the elimination period and continue for as long as you are totally disabled or until the policy ends, whichever happens first.

This cover will meet payments up to a maximum of $3000 per month. The maximum amount payable during the entire period of insurance and for claims by all insured persons combined is $100,000.

Involuntary Unemployment Cover

Involuntary unemployment cover pays your loan repayments due under the loan agreement in the event you become involuntarily unemployed for longer than the elimination period. Payments will continue for as long as the customer remains involuntarily unemployed up to a maximum period of 120 days or until the policy ends, whichever happens first.

This cover will meet payments for 120 days up to a maximum of $4,000 per claim. The maximum amount payable during the entire period of insurance is $10,000, for claims by all insured persons combined.

Consumer Credit Insurance Quote

If you are interested in obtaining an Consumer Credit Insurance quote, you can talk directly to your finance consultant or call our sales number on 1300 554 553.

Platinum Direct Finance Australia Pty Ltd ABN 29 117 660 938 AR number 300880 arranges insurance as an authorised representative of the insurer Allianz Australia Insurance Limited ABN 15000 122 850 AFSL 234708 of Level 12, 2 Market Street, Sydney NSW 2000.

We do not provide any advice in relation to this insurance or have given any consideration to your objectives, financial situations or needs. Before making a decision about it please refer to the Product Disclosure Statement available from our website.

If you purchase this insurance we will receive a commission that is a percentage of the premium. Ask us for more details before we provide you with any services on this product.