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Consumer Credit Insurance for Personal Loans

Protect your personal loan repayments

From as little as 50c per week1, you can protect your Suncorp Bank Personal Loan repayments, should you be unable to meet them due to disability, or death.

  • No Medical Checks
  • No Hidden Expenses

Features of Consumer Credit Insurance

Cover for two borrowers

You can choose a policy for just yourself, or, if applicable, a joint policy to cover the other borrower on your Personal Loan.

The choice of two covers

We offer cover for death only, and death and temporary disablement.2

Hassle-free premiums

For your convenience, premiums are included in your monthly loan repayment sum.

Payments straight to your Personal Loan

In the event of your death, Suncorp Life & Superannuation Limited will pay out the balance of your personal loan, up to a maximum of $60,000. In the event of your temporary disablement, Suncorp Bank 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.

1. Based on Death cover only on an average loan amount of $15,000 over a 3 year term.

2. If there are two Suncorp personal loan borrowers applying for cover, only one borrower can choose to have both Death and Temporary Disability Cover. 

Disclaimer

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. 

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 outlined in the Suncorp Consumer Credit Insurance for Personal Loans Product Disclosure Statement. 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.