Allianz Consumer Credit Insurance through Nexus Mutual

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

There are two types of insurance to choose from based on your loan:

Loan Cover Insurance

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

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

  • Cover for 24 hours a day; 7 days a week
  • 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.

Five Year Mortgage Repayment Insurance

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

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

  • Cover for 24 hours a day; 7 days a week
  • 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.

Important Information

Read the Loan Cover Insurance Product Disclosure StatementFive-Year Mortgage Repayment Insurance Product Disclosure Statement for more detailed information.

It is important that you understand that this insurance is optional and you can only purchase this insurance if you have a loan.

Please note you are entitled to a 30-day cooling off period should you change your mind about this insurance once you have purchased.

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.

How to pay

We know that having options matters. That’s why we offer a range of ways to pay your Loan Cover or Five Year Mortgage Protection Insurance premiums. Find out more.

Disclaimers

Nexus Mutual, a trading name of EECU Limited ABN 35 087 650 039 AFSL 244356 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.