Car Loans & Leasing
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Redundancy Insurance

Our 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
Combined Involuntary Redundancy & vehicle hand back cover:
  • 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
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