Protect your Suncorp personal loan repayments in the event you become disabled or die for as little as 50c per week.
If you are applying for a Suncorp Personal Loan2, help protect your loan repayments with Suncorp Consumer Credit Insurance for Personal Loans. This policy* is designed to give you peace of mind knowing that in the event of your death or a temporary disability*, your loan repayments would be covered*.
Features*
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Cover for 2 borrowers
You can choose a policy for just yourself, or a joint policy to cover the other borrower on your personal loan (if applicable) -
The choice of two covers
Choose cover for Death only or Death and Temporary Disablement3 -
Cover when you need it
If we accept your application cover under your policy will commence on the day your Personal Loan settles and your loan money is disbursed -
Hassle free Premiums
For your convenience, premiums are included in your monthly loan repayment -
Payments straight to your Personal Loan
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In the event of your death, Suncorp will payout the balance of your Personal Loan, up to a maximum of $60,000.
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If you select Temporary Disability cover, Suncorp will pay the minimum monthly loan repayment for each full month of disablement or 1/30th of the minimum monthly loan repayment for each day you are entitled to benefits for less than a full month.
Without the hassle or expense of medical checks, we guarantee* your acceptance if you:
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are a Suncorp Personal Loan customer and you confirm that you are of generally good health eg not suffering any serious health problems;
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will not turn 65 years of age or older before the end of your loan contract term; and
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have received the PDS in Australia and are an Australian resident.
How to apply
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How to Claim
In the event of a claim, simply call us as soon as possible on 13 11 75 and ask for 'personal loans' - we will send you a claim pack within 24 hours for completion.
Frequently Asked Questions
Does Suncorp Consumer Credit Insurance for Personal Loans suit all circumstances?
Like most insurance policies, Suncorp Consumer Credit Insurance for Personal Loans policy is subject to exclusions. For example, if you have a pre-existing medical condition at the time of you applying for this policy, we will not pay a claim if your death or temporary disability is caused by this pre-existing medical condition. For more details, please refer to the Suncorp Consumer Credit Insurance for Personal Loans Product Disclosure Statement. You may also wish to consider obtaining advice from a financial planner who can take into account your personal circumstances before you make any decision.How much does Suncorp Consumer Credit Insurance for Personal Loans cost?
If you choose to apply for Suncorp Consumer Credit Insurance for Personal Loans, your premium will be added to your monthly Personal Loan repayment. The amount of your premium is dependent on the amount of your loan, the term of your loan and the type of cover you have chosen.
To get a quote please refer to the premium rates table in the Suncorp Consumer Credit Insurance for Personal Loans Product Disclosure Statement or make an appointment with a Lending Consultant at your nearest branch. Alternatively please call us on 13 11 75 and at the prompt say 'New Personal Loan'.
Your Duty of Disclosure
* This information is a summary only. For more details, please refer to the Suncorp Consumer Credit Insurance for Personal Loans Product Disclosure Statement (PDS). The payment of any benefit under a Suncorp Consumer Credit Insurance for Personal Loans policy will be subject to exclusions (please refer to below). Provision of cover is subject to our confirmation of acceptance of your application and other terms that may apply to the product.
When you apply for Suncorp Consumer Credit Insurance for Personal Loans you have a duty under the Insurance Contracts Act 1984 to tell us the truth. If you do not do this, we may be able to cancel your policy or reduce your level of cover.
1 Based on Death cover only on an average loan amount of $15,000 over a 3 year term.
2 Suncorp Consumer Credit Insurance for Personal Loans is available to approved Suncorp personal loan applicants only. Approval of your Suncorp Loan Contract is not dependent on you taking out this insurance. You have the option of taking out consumer credit insurance through any insurer of your choice.
3 if there are two Suncorp personal loan borrowers applying for cover, only one borrower can choose to have both Death and Temporary Disability Cover.
Suncorp Consumer Credit Insurance for Personal Loans is issued by Suncorp Life &Superannuation Limited ABN 87 073 979 530 AFSL 229880 (SLSL). The information contained on this page is a summary only and maybe subject to change.
Any information contained in this document has been prepared without taking into account your objectives, financial situation, or needs. For that reason, before acting on this information, you should consider its appropriateness having regard to your own objectives, financial situation and needs. You should read and consider the Suncorp Consumer Credit Insurance for Personal Loans Product Disclosure Statement issued by SLSL before making any decision about whether to acquire the product. You may wish to also consider obtaining independent advice before making any decision about the product. SLSL is a subsidiary of Suncorp-Metway Limited ABN 66 010 831 722 (Suncorp). The obligations of SLSL are not guaranteed by another company in the Suncorp Group. Suncorp Consumer Credit Insurance for Personal Loans is not a bank deposit or other bank liability of Suncorp.