This insurance cover will help with your loan repayments if you are made redundant, if you become temporarily or permanently totally disabled, or if you die.

Good reasons to get Personal Loan Insurance

• Acceptance is guaranteed: If you have a loan, you can get Personal Loan Insurance. There are no age limits and no health or employment questions to answer.
• Only pay for the cover you need: Premiums decrease as the outstanding loan amount reduces, so youre only paying for the cover you need.
• Up to $50,000 cover if youre made redundant: If you become involuntarily redundant for longer that 30 consecutive days, your loan repayments will be met for up to 6 months, or until you return to full-time work, whichever occurs first. Note that the maximum payable is $50,000.
• Up to $50,000 cover for disablement: When an accident or illness prevents you from working in your usual occupation for 30 consecutive days or more, your loan repayments will be met for up to 2 years, or until you are no longer temporarily disabled, whichever occurs first. Note that a maximum of $50,000 is payable.
• Up to $50,000 cover for death: Your total outstanding loan balance, at the time of the event, will be repaid in one lump sum up to a maximum of $50,000.
• You can get cover after youve taken the loan: If you already have a loan, you can get cover for the outstanding balance.
• When a loan is given to more than one person, everyone gets a separate policy: If ASB approves a loan to two or more people, a separate policy will be issued for each person.
• 15-day free look: If you decide you dont want the cover for any reason, you can return it to us within the free look period and we will cancel the policy and refund any premiums you have paid.
• Underwritten by Sovereign: You have the security of knowing that your policy is underwritten by Sovereign Assurance Company Limited, New Zealands leading life insurance provider.