Loan Protection Insurance

Covering your commitments if the unexpected happens

There are all sorts of reasons you might want to borrow money. It could be for a new car, a boat, to consolidate debt, or for a much needed holiday. And even though repaying the loan is a significant medium or long-term commitment, it’s one you’ll have weighed up and are ready for.

What you may not be so prepared for are the unforeseen events life can deal us – accidents, illness, or involuntary unemployment – all of which bring pressure and uncertainty. Covering any loss of income and additional expenses they cause would be bad enough, without worrying about the burden of loan repayments as well.

Competitive, convenient cover backed by QBE

Loan Protection Insurance is one of a comprehensive range of insurance solutions WECU 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 its prompt, efficient and friendly claims service – that we’ve made it our general insurance provider.

This partnership enables us to deliver WECU members great value and quality insurance products, with all the convenience of still keeping your finances under the same roof.

Additional Information

Key Features
Benefit Conditions
Life Cover In the event of your death, pays the outstanding balance of your loan. Cover available up to a maximum of $75,000
Trauma Cover Pays the amount of cover selected by you in the event of positive diagnosis of any of the listed diseases. Automatic cover of $10,000. You may elect to increase cover in multiples of $5,000 up to $50,000
Disability Cover Pays the monthly repayment shown in the loan contract. Cover available up to a maximum of $75,000
Involuntary Unemployment Cover Pays the monthly repayment shown in the loan contract. Maximum payable is $6000


If you have any questions, please contact us

Important Notes

Terms, conditions and acceptance criteria apply. Cover limits 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 to decide if a product is right for you. Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239545