What does it cover?
Essential cover loan repayment insurance allows you to cover your home loan repayment, due to Disablement, Involuntary Unemployment or Life & Trauma, providing you with the security of knowing that if something unforeseen happens, this major financial commitment will be taken care of.
Is joint cover available?
Many people prefer a joint mortgage insurance policy. This means that both people who share the responsibility of home loan commitments can also share the protection of essential cover. The only requirement is that each partner is in permanent and gainful employment. Joint cover can be provided at a reduced premium for the second borrower.
Who can apply?
If you are between 16 and 59 years old, and in good health, you can apply for all covers.
How to apply
Discuss with us at the time of taking out your loan.
What we don't cover
This policy is subject to exclusions. Following are some of the main exclusions: pre-existing conditions, self-inflicted illnesses or injuries, motor racing and/or claims that result from drug or alcohol abuse (refer to actual policy for specifics on all exclusions).
The application form is simple. There are no questions about your health or medical history, unless your life cover is over $350,000, or you are between 50 and 59 years old and your life cover application is over $100,000.
Tassie Home Loans ABN 34 062 834 048 is an authorised representative of the insurer Insurance Australia Limited ABN 11 000 016 722. This is general advice only and does not take into account your personal circumstances. Before acting on this advice, you should consider your personal circumstances and the CGU PDS available from any branch of Tassie Home Loans or CGU Insurance.