Who looks after your loan if you can't? It's important to think about the effect on you and your family if, through unforseen circumstances, you're unable to meet your loan repayments.
Many people don't think about the impact a serious accident or illness, unemployment or even death would have on their loan. How will the mortgage or loan for the new car be paid?
Consider these statistics sourced from the Australian Institute of Health and Welfare, the National Heart Foundation and the Australian Bureau of Statistics.
• 1 in 5 Australians are expected to be unable to work due to an accident or illness for at least
1 month in their working lives.
• 1 in 15 Australians already in the workforce are expected to become unemployed.
• 1 in 10 deaths are expected to occur as a result of an injury or accident.
• 1 in 8 Australians are expected to become a hospital patient or be disabled through the
illness or accident.
• 1 in 4 Australians are expected to develop cancer.
• 1 Australian dies every 10 minutes from cardiovascular disease.
At Community CPS you can cover your loan repayments by taking out PremierCare® Consumer Credit Insurance (CCI) when you apply for a Community CPS loan.
This insurance has been specifically designed to cover mortgages, personal loans and credit limits. And, you have the choice of policies that pay out your loan if you die*, meet your loan repayments if you can't work due to an accident* or illness*, or meet some of your loan repayments if, not by choice, you find yourself unemployed*.
Paying the premium for CCI is easy.
For personal loans, one payment covers you for the term of the loan and you can have the premium included as part of your loan.
For mortgages, one payment covers you for a 5-year term and you can have the premium included as part of your loan.
For credit limits, the premium is based on how much of your credit facility you are using and is simply added to your Account each month. Of course, if you are not using your credit facility there is no charge.
For further information, call us on 13 25 85 or email us now.
The information provided is a summary only. You should refer to the Policy Document (Product Disclosure Statement) for the full terms, conditions, limitations and exclusions of the cover provided (available on application or request). *The Disability and Unemployment cover of this insurance is provided by Allianz Australia Insurance Limited AFS Licence No. 234708, ABN 15 000 122 850 (Allianz). The Death cover of this insurance is provided by Allianz Australia Life Insurance Limited AFS Licence No. 296559 ABN 27 076 033 782 (Allianz Life). Allianz acts as Allianz Life’s agent in offering and administering the Death cover.
IIn arranging this insurance Community CPS Australia Limited acts as an agent for the insurer(s) not as your agent. Neither Community CPS nor any of its subsidiaries guarantee the benefits payable under the policy or the repayment of any premium. PremierCare® is a registered Trade Mark of Community CPS.
