Consumer Credit Insurance (CCI)
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 life cover, trauma cover, disability cover and involuntary unemployment cover.
There are 5 levels of cover available with Consumer Credit Insurance:
- Life & Trauma
- Life, Trauma & Disability
- Disability & Involuntary Unemployment
- Life, Trauma, Disability & Involuntary Unemployment
Benefits of Consumer Credit Insurance
With Life cover and Trauma cover, Consumer Credit Insurance can pay out the outstanding balance of your loan up to a maximum of $100,000.
With Disability cover, if you are unable to work for more than 7 days, Consumer Credit Insurance can pay your minimum monthly loan repayments up to a maximum of $3,000 per month and $100,000 in total.
With Involuntary Unemployment cover, if you are involuntarily unemployed for more than 7 days, Consumer Credit Insurance can pay your minimum monthly loan repayments up to a limit of $4,000 over 120 days per claim, and a limit of $10,000 in total.