Personal Credit Protect

Important note:

Please note Personal Credit Protect is no longer sold. The information on this product is for existing Personal Credit Protect policy holders.

BankSA Personal Credit Protect offers cover for you if something unexpected happens, meaning your loan repayments can still be taken care of.

Helps cover your personal loan repayments when you can't

Helps meet your repayments if you unexpectedly lose your job, of if you can’t work because of sickness, injury or disease
It also helps pay the outstanding balance owing on the personal loan up to $50,000 if you pass away
The premium is included as part of the amount borrowed under your Personal Loan

Like all insurance, terms and conditions, and limitations and exclusions apply. Read the PDS for full details of cover.

Overview
Cover
How it works
How to claim

Overview

Personal Credit Protect	Personal Credit Protect is designed to help cover your personal loan repayments if you can’t work because of sickness, injury or disease, or if you lose your job. It also helps pay the balance owing on your personal loan if you pass away.
Sickness, injury or disease	Helps meet your personal loan repayments if you become unfit for work due to sickness, injury or disease.
Involuntary Unemployment	Helps you meet your personal loan repayments if you lose your job unexpectedly (Involuntary Unemployment).
Death	If you die, we will pay the balance owing on your Personal Loan as at the date of your death, up to $50,000.
One-off premium	Premium is charged once only and added to the loan amount you borrow.
Claim benefits paid direct to your loan	Benefits are paid directly to your personal loan in the event of a claim.

Cover

BankSA Personal Credit Protect cover includes:

Sickness, injury or disease – if you’re unable to work due to sickness, injury or disease, we’ll contribute to your regular loan repayments until you are fit for work, or until the amount owing at the time you became unfit for work has been paid, whichever occurs first
Involuntary Unemployment – we will contribute up to the original personal loan monthly repayment amount for up to 180 days or until you return to permanent and gainful employment, whichever occurs first
Death – to assist in meeting loan repayments if you die, we will pay the balance owing on your Personal Loan as at the date of your death, up to $50,000.

Other benefits

One off premium becomes part of your personal loan
Claim payments are made directly to your personal loan
You can claim even if you’re entitled to other benefits from another source such as workers’ compensation, sick leave or Centrelink.

What’s not covered

It’s important to understand all of the exclusions under your policy if you do need to make a claim. For a list of all exclusions, please refer to the PDS for full details. Here are some exclusions that apply to your policy:

In the first 6 months of this policy, you will not be able to claim for any condition you have obtained medical advice for in the 6 months before the policy commences
You won’t be covered if you resign or take voluntary redundancy.

How it works

How personal loan protection could benefit you

BankSA Personal Credit Protect means you have less to worry about in being able to meet your personal loan repayments. You and your family can focus on recovering should the unexpected happen knowing we’re here to support you.

In the event of a claim, any amounts are paid directly to your loan. Here’s an example of how this could work for you.

Insured event	Example
Death	If you die, we will pay the balance owing on your Personal Loan as at the date of your death, up to $50,000.
Sickness, injury or disease	If you become unfit for work due to sickness, injury or disease, we will contribute up to the original Personal Loan monthly repayment amount each month until you are fit for work, or until the amount owing at the time you became unfit for work has been paid, whichever occurs first.
Involuntary Unemployment	If you lose your job through Involuntary Unemployment, we will contribute up to the original Personal Loan monthly repayment amount for up to 180 days or until you return to permanent and gainful employment, whichever occurs first.

How to claim

Swann Insurance manages all Personal Credit Protect claims. To obtain a claim form:

Call 1300 657 382, Monday to Friday 9.00am – 5.00pm (Sydney time).

All claim forms are to be mailed to:

      Swann Insurance
      PO Box 14459
      Melbourne VIC 8001

Need assistance

If you have any questions, please call Swann Insurance on 1300 657 382, Monday to Friday, 9.00am - 5.00pm (Sydney time).

The Detail

BankSA Personal Credit Protect was issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as Swann Insurance (issuer of the involuntary unemployment and disablement covers) and TAL Life Insurance Services Limited ABN 31 003 149 157 AFSL 233728 (TLISL), previously St.George Life Limited (issuer of the death cover). TLISL is part of the TAL Dai-ichi Life Australia Pty Ltd ABN 97 150 070 483 group of companies.

BankSA is a trade mark of Westpac Banking Corporation ABN 33 007 457 141 (Westpac) and is used by TLISL under licence. Westpac arranged the insurance but does not guarantee the insurance.

This information does not take into account your personal circumstances, so please consider your Product Disclosure Statement to see if this insurance is right for you. To obtain a copy please call 1300 657 382.