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Covering your commitments if the unexpected happens |
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There are all sorts of reasons you might want to borrow money. It could be for a new car, a boat, to consolidate debt, or for a much needed holiday. And even though repaying the loan is a significant medium or long-term commitment, it’s one you’ll have weighted up and are ready for.
What you may not be so prepared for are the unforeseen events life can deal us – accidents, illness, or involuntary unemployment – all of which bring pressure and uncertainty. Covering any loss of income and additional expenses they cause would be bad enough, without worrying about the burden of loan repayments as well. |
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Competitive, convenient cover backed by QBE
Loan Protection Insurance is one of a comprehensive range of insurance solutions SGE Credit Union offers through our association with QBE Insurance.
Founded in 1886, QBE is one of Australia’s leading insurers. It’s because of QBE’s experience, security and strength – as well as its prompt, efficient and friendly claims service – that we’ve made it our exclusive insurance provider.
This partnership enables us to deliver SGE members great value and quality insurance products, with all the convenience of still keeping your finances under the same roof. |
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A choice of cover options
Depending on your own circumstances and dependents, you can tailor your Loan Protection policy to provide cover in a range of situations.
Life
In the event of your death, the outstanding balance of your loan will be paid in full.
Trauma
You are automatically covered up to $10,000 in the event of major diagnosed diseases and conditions, including chronic kidney failure, heart attack, coronary artery surgery, stroke, major organ transplant and cancer. It’s not a loan repayment, but an additional benefit proportionate to the amount of cover you select. You may elect to increase this cover to a maximum of $50,000.
Disability
If you become unable to work due to illness or injury, this ensures your monthly loan repayments will be met.
Involuntary Unemployment
Should you involuntarily lose your job, this cover provides loan repayments for up to 90 days. |
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Summary of Benefits
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| Cover |
Benefit |
Main Conditions |
| Life Cover |
In the event of your death, pays the outstanding balance of your loan, including any arrears in monthly repayments up to two (2) months at the date of death, and less a rebate of charges |
Cover available up to a maximum of $75,000 |
| Trauma Cover |
Pays the amount of cover selected by you in the event of positive diagnosis of any of the listed diseases such as chronic kidney failure, heart attack, coronary artery surgery, stroke, major organ transplant and cancer |
Automatic cover of $10,000. You may elect to increase cover in multiples of $5,000 up to $50,000 |
| Disability Cover |
Pays the monthly repayment shown in the loan contract
You are able to claim if you have an accident or an illness which results in you being unable to work |
Cover available up to a maximum of $75,000 |
| Involuntary Unemployment Cover |
Pays the monthly repayment shown in the loan contract
You are able to claim if you lose your job involuntarily |
Maximum payable regardless of number of claims made during period of insurance is $6,000 |
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Sign up now, with flexible payment options |
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With SGE, you can arrange both your loan and loan insurance at the same time, giving you one less thing to worry about.
For convenience, your premium can be included in your loan repayments. Or, you can pay up front, whatever suits you best.
To apply, or find out more about this and other insurance solutions, talk to our local SGE Credit Union Service Centre, or call us now on
1300 304 932 |
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| To download a copy of the loan repayment insurance pds, click here. |
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Terms, conditions and acceptance criteria apply. Cover limits and waiting periods apply as set out in the policy wording. This material does not take into account your personal needs, objectives and financial circumstances and you should consider whether it is appropriate for you. Please read the product disclosure statement available at all SGE Credit Union branches to decide if a product is right for you. Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239545 for Disability and Involuntary Unemployment and ING Life Limited ABN 33 009 657 176 AFSL 238341 for Life and Trauma. |
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