Redundancy Insurance
Download PDSOur Redundancy Insurance can protect your payments if you lose your job.
Summary of key benefits *
Accidental Death
- The amount owing on the finance contract up to a maximum of $50,000
- In the event of involuntary redundancy there is a 30 day waiting period
- 6 monthly repayments are then covered whilst seeking work
- Vehicle can be handed back at any time after the 3rd monthly repayment has been approved and the vehicle hand back cover can be claimed
- $20,000 maximum payable any one claim
Product Eligibility
To be eligible for Lease Protection Insurance, the applicant must be:
- An Australian resident
- Between the ages of 18 and 60 at policy commencement
- Engaged in permanent and full-time employment for a continuous period of 12 months at policy commencement (N.B. does not have to be with the same employer)
- Not self-employed
Premiums
| Premium is a one-off up-front payment which covers the Insured for the life of the lease/loan. | ||
| Term (months) | Premium per $1,000 financed |
For example: $35,000 total amount financed, 48 months Premium = ($35,000 / $1,000) * $18.38 = $643.30 total amount payable |
| 0 - 12 | $13.75 | |
| 12 - 24 | $15.38 | |
| 24 - 36 | $16.88 | |
| 36 - 42 | $18.38 | |
| 42 - 60 | $19.88 | |
* It is important to refer to the Product Disclosure Statement (PDS) / Policy Wording for a full description of coverage details
