Personal Loan Protection

Need more detail?

It’s important to understand what you are and aren’t covered for. For the Personal Credit Protect policy details, check the Product Disclosure Statement

It makes sense to protect your personal loan repayment

If you’re applying for a personal loan from a BankSA branch or over the telephone, consider how you would meet your loan repayments if something unexpected were to happen to you. Personal loan protection can help you meet your personal loan repayments if should you become sick, have an accident, lose your job, or pass away.

BankSA Personal Credit Protect cover includes:

• Sickness or accident – if you’re unable to work due to sickness or accident, we’ll cover your regular loan repayments until you return to work
• Involuntary Unemployment – covers your regular loan repayments for up to 3 months or $1500 should you lose your job unexpectedly while you seek new employment.
• Life – helping ensure your family is not burdened with meeting loan repayments if you were to pass away. BankSA Personal Credit Protect covers your outstanding loan balance ( up to a maximum of $50,000).

Other benefits

• No medical examination required when applying
• One off premium becomes part of your personal loan
• Claim payments are made directly to your personal loan
• Joint borrowers can either or both apply for this protection
• Any benefits from another source, such as workers compensation, sick leave or Centrelink will not be impacted if you make a claim

Need more detail

Read the BankSA Personal Credit Protect Product Disclosure Statement to make sure the personal loan protection meets your needs.

How personal loan protection could benefit you

BankSA Personal Credit Protect means you have less to worry about in being able to meet your personal loan repayments. You and your family can focus on recovering should the unexpected happen knowing we’re here to support you.

Personal Credit Protect is easy to put in place when you apply for your new personal loan or refinance your existing personal loan, at one of our branches or over the telephone, and the one off premium is simply added to your loan amount. Once you have set it up, there is no more for you to do and you can relax knowing you’re covered.

In the event of a claim, any amounts are paid directly to your loan. Here’s an example of how this could work for you.

Need more detail?

Download and read the Personal Credit Protect Product Disclosure Statement to make sure the personal loan protection meets your needs.

How to claim

Call Swann Insurance as soon as possible on 1300 657 382 if you believe you have reason to make a claim.

They will provide you with a claim form for you to complete and return with 14 days, including the information outlined below and any other details they need. If your claim relates to a period exceeding one month, you may need to complete further claim forms and provide further information.

All claim forms are to be mailed to:

Swann Insurance (Aust) Pty Ltd
PO Box 14459
Melbourne VIC 8001

(We cannot include this information as all claims are assessed by Swann Insurance and should be directed to them regarding documentation they require for assessment)

What happens when you claim

Swann Insurance will get back to you within 10 days to either:

• Confirm whether your claim has been successful and provided payment details, or
• Request additional information to help us reach a decision on your claim.

Need assistance

If you have any questions, or would like assistance completing the claim form, please call Swann Insurance on 1300 657 382, Monday to Friday, 9am to 5pm (Sydney time).

• Call us: 13 13 76 Monday to Saturday 7.30am – 7.30pm, to apply for personal loan protection
• Visit a branch