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Home / Banking / Insurance / Loan Repayment Insurance

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Loan Protection Insurance is designed to help with your loan repayments in the event an unforeseen event occurs, such as death, disability or involuntary unemployment.

It is important that you understand that this insurance is optional and you can only purchase this insurance if you have a loan with Northern Inland. There are two types of insurance to choose from based on your loan.

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  Mortgages - Allianz Five Year Mortgage Repayment Insurance Features

Cover for your home loan repayments up to the policy limits.

Depending on the cover you apply for, key features include:

  • Cover 24 hours a day, 7 days per week (waiting periods apply for Disability and Involuntary Unemployment cover)
  • A death benefit of up to $750,000
  • A monthly disability benefit for up to 24 months
  • Involuntary unemployment benefit:
    • up to a maximum of $3,000 per month for up to 120 days per claim; or
    • up to a maximum of $10,000 in any one policy period, whichever occurs first

  Personal Loans - Allianz Loan Cover Insurance Features
Cover for your personal loan repayments up to the policy limits.
Depending on the cover you apply for, key features include:
  • Cover 24 hours a day, 7 days per week (waiting periods apply for Disability and Involuntary Unemployment cover)
  • A death benefit of up to $80,000
  • A monthly disability benefit
  • Involuntary unemployment benefit:
    • for up to 120 days per claim; or
    • up to $10,000 for any one policy period, whichever occurs first
  • Policy is required to be taken out at the time of the loan funding

 

How to claim

You can make a claim by calling Allianz on 1300 362 108 between 8.30am - 5.30pm Monday to Friday, Australian Eastern Standard Time excluding public holidays.

 

Important Information:

Northern Inland Credit Union ABN 36 087 650 422 AFSL 235022 arranges this insurance as agent of the insurer Allianz Australia Insurance Limited (“Allianz”) ABN 15 000 122 850 AFSL 234708. Allianz is the insurer of the Disability cover (Part 2) and Involuntary Unemployment cover (Part 3) and is only responsible for these covers. Allianz Australia Life Insurance Limited (“Allianz Life”) ABN 27 076 033 782 AFSL 296559 is the insurer of the Death cover (Part 1) and is only responsible for this cover. Allianz acts as Allianz Life’s agent in offering and administering the Death cover.
We do not provide advice on this insurance based on any consideration of your objectives, financial position or need. Policy terms, conditions, limits, exclusion, eligibility criteria and underwriting criteria apply. Before making a decision please consider the relevant Product Disclosure Statement available on our website. If you purchase this insurance, we receive a commission that is a percentage of the premium. Ask us for more details before we provide you with services. Where insurance premium is paid as part of a loan payment, interest will be payable on that premium. Before making a decision please read the Product Disclosure Statements: Allianz Five Year Mortgage Repayment Insurance , Allianz Loan Cover Insurance, How to Pay also available at any branch or by calling Northern Inland on 1300 65 65 81.