Here at Chasmont we like to ensure you are protected from the unexpected in life and as such we offer our own negotiated quality Payment Protection Insurance through Protecta Insurance.

If you wish to have that little bit extra protection that we offer then one of our team will work with you to choose the best option for you.  We look upon Payment Protection Insurance as reducing risk and as such you may get a better interest rate on a loan.

We offer both loan payment protection and life cover depending on your situation.

Payment Protection Benefits

Disablement Cover(working 20 or more hours a week)
Payments are covered whilst you are off work to a maximum or $100,000, until the loan is paid in full or you are no longer disabled, whichever comes first.
Redundancy Cover(working 20 or more hours a week)
Payments are covered whilst you are looking for work to a maximum of $10,000 for up to 365 Days or until the loan is paid in full, whichever comes first.
Bankruptcy Cover (self-employed only)
Payments are covered whilst you are bankrupt to a maximum of $10,000 for up to 365 Days or until the loan is paid in full, whichever comes first.
Death and Terminal Illness Cover (working or not)
Your loan will be paid in full (less any arrears over 3 months) to a maximum of $100,000.

 

Cost Examples

Cover on a $5000.00 loan over 36 Months on one person:
Full Cover Payment Protection $3.59 Weekly
Life Cover Payment Protection $1.35 Weekly
Cover on a $5000.00 loan over 36 Months on two people:
Full Cover Payment Protection - Both working $6.28 Weekly
Life Cover Payment Protection - One working $4.94 Weekly
Life Cover Payment Protection - Neither working $2.36 Weekly

 

Important things to note

Pre-existing Conditions:
Our policy covers pre-existing conditions if:
You are not currently receiving any form of treatment; and
You have not received any treatment for the condition in the previous six months from the start date of the contract.
Age:
You must be 65 or younger at the start date of the contract.
The cover finishes when you turn 70.
Cancellation:
You have 15 days right to cancel the policy.
If you negotiated a better interest rate by having the insurance the rate will revert back to the original rate.
Cancellation must be done in writing.

For an in-depth 'Summary of Cover' click here