Consumer Credit Insurance (Assurance Plan)
Consumer Credit Insurance is designed as a simple and affordable way to cover you for your obligations under a loan agreement.
A loan agreement commits you to specific repayment obligations, and if for some reason you were unable to meet those obligations, you or your family would be still be liable.
Consumer Credit Insurance helps protect you from the unexpected by offering a range of options that can include Life Cover, Accident and Sickness, and Involuntary Unemployment.
Cover options
There are 3 levels of cover available with Consumer Credit Insurance:
- Assurance Plan Gold: provides cover for Life, Accident and Sickness and Involuntary Unemployment, and offers the maximum loan cover for borrowers who are not self-employed or work less than 20 hours per week.
- Assurance Plan Silver: option provides cover for Life and Accident and Sickness, and offers maximum cover for borrowers who are self employed.
- Assurance Plan Bronze: option provides cover for Life only.
Benefits of Consumer Credit Insurance
With Life cover, Assurance Plan can pay out the outstanding balance of your loan up to a maximum of $250,000*.
If you are unable to work for a period of more than 30 days due to accident or sickness, Assurance Plan can pay your minimum monthly loan repayments after the first 30 days for a maximum of 36 months*.
If you are involuntarily unemployed for more than 30 days, Assurance Plan can pay your minimum monthly loan repayments after the first 30 days for up to 6 months for any claim within a 12 month period*.
Want to know more?
To find out more about Consumer Credit Insurance or get a quote, please complete an online enquiry or call us on 1300 STRATTON (1300 787 288).
* Benefit Limits and Exclusions Apply.
St Andrew's Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649 and St Andrew's Life Insurance Pty Ltd ABN 98 105 176 243 AFSL 281731 (collectively St Andrew's) are the issuers of Assurance Plan. Assurance Plan is not a product of, nor guaranteed by Stratton Finance ABN 52 913 104 430. Any advice given is of a general nature only and is not based on any consideration of your financial situation or needs. To decide if Assurance Plan is right for you please read the Product Disclosure Statement which can be obtained from Stratton Finance. Stratton Finance is authorised by St Andrew's to provide general advice, to arrange Assurance Plan and may receive a commission from the issuers of up to 49.5% of the net premium on any product arranged by it. Assurance Plan is not compulsory and you are free to choose any provider for this type of insurance. All cover is subject to acceptance by the issuers.