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Get Set Protect

BankSA Get Set Protect offers cover for you if something unexpected happens, meaning your loan repayments can still be taken care of

  • Get Set Protect helps you meet your get set loan repayment obligations if you unexpectedly lose your job, become sick, have an accident, or if you pass away
  • It’s easy to purchase Get Set Protect when you apply for your new BankSA Get Set Loan at any of our branches or over the phone
  • Premium for the protection is included in the total amount you borrow
  • In the event of a claim, benefits are paid directly to your Get Set Loan
  • If you die, we will pay the balance owing on your Get Set Loan as at the date of your death, up to $50,000.

Get Set Protect

  • Get Set Protect reduces the chance of you defaulting on your get set loan repayments should something unexpected happen to you
  • Any benefits from another source, such as workers compensation, sick leave or Centrelink, will not be impacted if you make a claim

Sickness, injury or disease

  • If you become unfit for work due to sickness, injury or disease, we will contribute up to 3% of the original Get Set Loan amount each month until you are fit for work, for up to 365 days, or until the maximum benefit has been paid, whichever occurs first.

Involuntary Unemployment

  • Helps you meet your get set loan repayments if you lose your job unexpectedly (Involuntary Unemployment)

Death

  • If you die, we will pay the balance owing on your Get Set Loan as at the date of your death, up to $50,000.

Joint borrowers

  • If you and another person are joint borrowers on your get set loan, either or both of you may apply for this protection. Discounts apply for a second borrower

Easy to apply

  • Easy application process with minimal paperwork when you apply for a new BankSA get set loan or refinance your existing loan at any one of our branches or over the telephone

One-off premium

  • Premium is charged once only and added to the loan amount you borrow. Get Set Protect is a 3 year policy, valid for a maximum period of 36 months (unless cancelled earlier).

Claim benefits paid direct to your loan

  • Benefits are paid directly to your get set loan in the event of a claim

Need more detail?

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

It makes sense to protect your get set loan

If you’re applying for a get set 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. Get Set Protect can help you meet your get set loan repayment obligations if you become sick, have an accident, lose your job, or pass away.

BankSA Get Set Protect cover includes:

  • Sickness, injury or disease - If you become unfit for work due to sickness, injury or disease, we will contribute up to 3% of the original Get Set Loan amount each month until you are fit for work, for up to 365 days, or until the maximum benefit has been paid, whichever occurs first.
  • Involuntary Unemployment – If you lose your job through Involuntary Unemployment, we will contribute up to 3% of the original Get Set Loan amount each month until you cease to be unemployed for up to 180 days, or until the maximum benefit of $2,000 has been paid, whichever occurs first.
  • Death - If you die, we will pay the balance owing on your Get Set Loan as at the date of your death, up to $50,000.

Other benefits

  • No medical examination required when applying
  • One-off premium becomes part of your get set loan
  • Claim payments are made directly to your get set 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.

What’s not covered

It’s important to understand all of the exclusions under your policy if you do need to make a claim. For a list of all exclusions, please refer to the PDS for full details. Here are some exclusions that apply to your policy:

  • The policy does not cover any illness, injury or condition known to be present in the 12 months before the policy commences
  • You won’t be covered if you resign or take voluntary redundancy

Need more detail

Read the BankSA Get Set Protect Product Disclosure Statement to make sure this protection meets your needs.

 

 

How Get Set Protect could benefit you

BankSA Get Set Protect means you have less to worry about in being able to meet your get set loan repayment obligations. You and your family can focus on recovering should the unexpected happen, knowing we’re there to support you.

Get Set Protect is easy to put in place when you apply for your new get set loan or refinance your existing get set 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 get set loan. Here’s an example of how this could work for you.

Insured event

Example

Death

If you die, we will pay the balance owing on your Get Set Loan as at the date of your death, up to $50,000.

Sickness, injury or disease

If you become unfit for work due to sickness, injury or disease, we will contribute up to 3% of the original Get Set Loan amount each month until you are fit for work, for up to 365 days, or until the maximum benefit has been paid, whichever occurs first.

Involuntary Unemployment        

If you lose your job through Involuntary Unemployment, we will contribute up to 3% of the original Get Set Loan amount each month until you cease to be unemployed for up to 180 days, or until the maximum benefit of $2,000 has been paid, whichever occurs first.

Need more detail?

Read the BankSA Get Set Protect Product Disclosure Statement to make sure this protection meets your needs. 

How to Claim

Swann Insurance manages all Credit Card Protect claims. To obtain a claim form:

Call 1300 657 382, Monday to Friday 9.00am – 5.00pm (Sydney time), or visit your nearest BankSA branch.

It’s important to lodge your claim as soon as possible to avoid defaulting on your Credit Card. Until your claim is accepted, it’s still your responsibility to meet your repayment obligations.

Swann Insurance will send you a claim form which you should fully complete and return, within 14 days of receipt, together with any other additional information which may be required to support your claim.

All claim forms are to be mailed to:

      Swann Insurance (Aust) Pty Ltd

      PO Box 14459

      Melbourne VIC 8001

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 provide payment details, or
  • Request additional information to help 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, 9.00am - 5.00pm (Sydney time).

Important information

This information is current as at 11 July 2015. BankSA Personal Credit Protect, Get Set Protect and Credit Card Protect are issued by Swann Insurance (Aust) Pty Ltd ABN 80 000 886 680 (who issues the Involuntary Unemployment cover and the Disablement cover) and St.George Life Limited ABN 88 076 763 936 (who issues the Death cover).  BankSA – A Division of Westpac Banking Corporation ABN 33 007 457 141 distributes the insurance, but does not guarantee the insurance. St.George Life Limited is a subsidiary of the Bank. This information is general only and does not take into account your personal circumstances.  Read the relevant Product Disclosure Statement, available at BankSA Personal Credit ProtectBankSA Get Set Protect and BankSA Credit Card Protect, to see if this insurance is right for you.

(c) BankSA – A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 ACL 233714