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Mortgages and Personal Loans are often long term commitments, so it makes sense to cover them with Loan Repayment Insurance.

Loan Repayment Insurance is your safety net, which will cover you should misfortune strike and you are unable to meet your monthly loan repayments due to disability, involuntary unemployment or death. Loan Repayment Insurance relieves the financial burden for you and your family in your time of need.

SCU offers two loan repayment insurance products depending on your type of loan. Cover is provided for home loans and car and personal loans.

  Mortgage - Five Year Mortgage Repayment Insurance
  • Cover 24 hours a day, 7 days per week
  • A Death benefit of up to $500,000
  • A monthly Disability benefit for up to 24 months
  • Involuntary unemployment benefit of up to $3,000 per month of unemployment for up to 4 months
  Personal Loans - Allianz Loan Repayment Insurance:
  • Cover 24 hours a day, 7 days per week
  • A Death benefit of up to $80,000
  • A monthly Disability benefit
  • Involuntary unemployment benefit for up to 120 days
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The above information is a summary of the cover provided under each policy. For detailed information about this insurance please read the relevant Policy Document (Product Disclosure Statement)
Ask SCU

Allianz Australia Insurance Limited (Allianz) AFS Licence No: 234708, ABN 15 000 122 850 of 2 Market Street, Sydney NSW 2000 provides the Disability and Unemployment cover. Allianz Australia Life Insurance Limited (Allianz Life) AFS Licence No: 26559, ABN 27 076 033 782 of 2 Market Street, Sydney NSW 2000 provides the Death cover. In arranging this insurance Sydney Credit Union, AFSL No. 236476, ABN 93 087 650 726 acts as an agent for Allianz, not as your agent. The information contained in this guide is a summary only. We cannot advise you whether the insurance is appropriate for your personal objectives, financial situation or needs. Terms, conditions, limits and exclusions apply.To decide if it is appropriate for you, please consider the relevant policy documents (Product Disclosure Statement). If you purchase this policy, we will charge you an agreed premium, including any relevant taxes and charges.

 

 

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