Also known as Consumer Credit Insurance. This insurance can pay your loan repayments, if you cannot work due to sickness or injury, or if you become involuntarily unemployed. The policy may also include life cover.
- Cover is available for joint owners/applicants.
- Financed as part of your car loan, and may cost less than you think.
- Covers the whole term of the loan.
Any claim under this cover will be paid in addition to any of your sick leave or compensation entitlements, and gives protection to your family or loan guarantor rather than passing the burden of debt.