Loan Protection Insurance or Consumer Credit Insurance (CCI)
Loan Protection Insurance is also known as Consumer Credit Insurance. This type of insurance provides cover for loan repayments for certain events outside of your control*. These events include Involuntary Unemployment, Accident, Sickness and even Life Cover.
Under your loan agreement, regular payments must be made usually monthly or fortnightly. If you fail to make these payments, the financier may take action against yourself or your family. This may result in the loss of your car, boat, bike, caravan, truck or plant and equipment.
This type of insurance is a one off premium that is spread over the life of your loan contract.
Benefits of Loan Protection Insurance
- In the event of Involuntary unemployment repayments are made on your loan up to a specified level.
- If you are unable to work due to accident or sickness repayments are made on the loan for a set period*.
- Life cover will pay the entire balance in the event of death*.
Apply for Loan Protection Insurance
AAA Finance and Insurance can customise a solution to suit your needs. Call one of our Experienced Insurance Experts on (07) 5493 1222 to discuss your Loan Protection Insurance needs today. Or Enquire on-line Now.