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| back to home :: protection :: mortgage insurance |
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A new roof over your head? Cover your home loan at the same time
A nest, a castle, a crash pad or a retreat? A new home represents something different to everyone. But for nearly all of us, it will become one of our most significant assets.
And for all the buzz and pleasure in buying a new home, there’s also a fair amount of stress, not least in taking on the responsibility of a mortgage – usually a long-term commitment. Because we all know that down the track, life’s magic moments may be tempered with some not so happy, but equally major, events.
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Competitive, convenient cover backed by QBE
Mortgage Protection Insurance is one of a comprehensive range of insurance solutions SGE Credit Union offers through our association with QBE Insurance.
Founded in 1886, QBE is one of Australia’s leading insurers. It’s because of QBE’s experience, security and strength – as well as it’s prompt, efficient and friendly claims service – that we’ve made it our exclusive insurance provider.
This partnership enables us to deliver SGE members great value and quality insurance products, with all the convenience of still keeping your finances under the same roof. |
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A choice of cover options
Depending on your own circumstances and dependents, you can tailor a Mortgage Protection policy to provide cover for a range of situations.
Life
In the event of your death, the outstanding balance of your loan will be paid in full.
Trauma
You are automatically covered up to $10,000 in the event of major diagnosed diseases and conditions, including chronic kidney failure, heart attack, coronary artery surgery, stroke, major organ transplant and cancer. It’s not a loan repayment, but an additional benefit proportionate to the amount of cover you select. You may elect to increase this cover to a maximum of $50,000.
Disability
If you become unable to work due to illness or injury, this ensures your monthly loan repayments will be met.
Involuntary Unemployment
Should you involuntarily lose your job, this cover provides loan repayments for up to 90 days. |
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Summary of Benefits
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| Cover |
Benefit |
Main Conditions |
| Life Cover |
In the event of your death, pays the
| • |
Original balance of your mortgage |
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OR |
| • |
The amount of cover selected by you as shown on the policy schedule Any amount remaining after paying out your mortgage is paid into your estate |
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Cover available up to a maximum of $500,000 |
| Trauma Cover |
Pays the amount of cover selected by you in the event of positive diagnosis of any of the listed diseases or disabilities.
You may elect to increase cover in multiples of $5,000 up to $50,000 |
Automatic cover of $10,000 |
| Disability Cover |
Pays the lesser of:
| • |
monthly repayment shown in the loan contract |
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OR |
| • |
the monthly benefit selected by you and shown on the policy schedules |
You are able to claim if you have an accident or an illness which results in you being unable to work |
Maximum payable regardless of number of claims made during the period of insurance is $150,000 |
| Involuntary Unemployment Cover |
Pays the lesser of:
| • |
monthly repayment shown in the loan contract |
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OR |
| • |
the monthly benefit selected by you and shown on the policy schedules |
You are able to claim if you lose your job involuntarily |
Maximum payable regardless of number of claims made during the period of insurance is $12,000 |
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Sign up now, with flexible payment options |
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With SGE, you can arrange both your mortgage and mortgage protection insurance at the same time, giving you one less thing to worry about.
For convenience, your premium can be included in your loan repayments. Or, you can pay up front, whatever suits you best.
To apply, or find out more about this and other insurance solutions, talk to our local SGE Credit Union Service Centre, or call us now on
1300 364 400 |
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To download a copy of the mortgage protection insurance pds,
click here. |
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Terms, conditions and acceptance criteria apply. Cover limits and waiting periods apply as set out in the policy wording. This material does not take into account your personal needs, objectives and financial circumstances and you should consider whether it is appropriate for you. Please read the product disclosure statement available at all SGE Credit Union branches to decide if a product is right for you. Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239545 for Disability and Involuntary Unemployment and ING Life Limited ABN 33 009 657 176 AFSL 238341 for Life and Trauma.
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