BankVic

Essential Cover Loan Repayment Protection

Buying a home is the biggest financial commitment most of us will ever make and mortgage repayments are likely to be the largest long term expense we will face.

Protecting yourself and your loved ones with Essential Cover Loan Repayment Protection ensures that you have the cover you need for your mortgage repayments. It provides you with security knowing your major financial commitment will be taken care of in the event of an unforeseen circumstance, such as accident or injury.  

Choice of covers available include:

  • Life Cover
  • Trauma Cover
  • Involuntary Unemployment
  • Disablement (sickness and accident).

Benefits

  • Maximum cover available up to $500,000 (Mortgages).
  • Pays the outstanding loan balance on your mortgage if you have selected Life cover and you pass away.
  • Pays your monthly repayment if you have selected Disablement cover (sickness and accident) and become sick or have an accident (conditions might apply so contact us for more details).
  • Pays your monthly repayment if you have selected involuntary unemployment and are made involuntarily unemployed (conditions might apply so contact us for more details).
  • Nominated benefit amount paid direct to you if you have selected trauma cover and are diagnosed with cancer, stroke, heart attack or have coronary heart surgery (conditions apply).
  • The premium can be added to your loan and repaid over the loan term.
    • Note: when the premium is factored into the loan, it becomes part of the amount borrowed and effectively interest will be payable on insurance premium.

Features

Features of CGU Essential Cover Loan Repayment Protection include:

  • obligation-free quotes
  • friendly service.


Get a quote

2 easy ways to obtain Essential Cover Loan Repayment Protection

Before you decide to insure with us...

We recommend that you read the CGU Essential Cover Loan Repayment Protection PDS (PDF).


How to claim

You or your estate’s legal representative can make a claim by calling CGU on 1800 248 224 or email cciclaims@cgu.com.au.

CGU will provide a claim form and inform you of the documentation required. It is best to advise CGU as soon as possible after the event for which the claim is being made.

Insurance products are sold by Police Financial Services Limited Trading as BankVic ABN 33 087 651 661 AFSL 240293 Australian Credit Licence 240293 and are issued by CGU Insurance Limited ABN 27 004 478 371 AFSL 238291. In arranging this insurance, BankVic acts under its own AFSL and under an agreement with the insurer, CGU Insurance. This is general advice only and does not take into account your personal circumstances. The relevant Product Disclosure Statement (PDS) and your personal circumstances should be considered when making a decision to acquire the insurance product(s). The PDS for the relevant product is available at any BankVic branch. We receive a commission for insurance product sales. Details of the commission we receive can be found in our Financial Services Guide (FSG).

BSB: 704-230

Police Financial Services Limited - ABN 33 087 651 661
AFSL 240293 Australian Credit Licence 240293
General Enquiries 13 63 73
Copyright 2017