Loan protection

Loan protection from our partner St. Andrew's can help cover your home or personal loan repayments if you are suddenly unable to.

Benefits 

Flexible cover options 

Subject to eligibility, you can choose from three cover options for credit protection for your personal loan or home loan.

Benefits paid 

Involuntary unemployment benefits are paid regardless of any other payouts from your employer. 

Peace of mind 

Cover in the case of injury, sickness, involuntary unemployment or death. 

How it works

Subject to eligibility, you can choose from three cover options for credit protection for your personal loan or home loan. Premiums are paid monthly by direct debit.

The benefit options are Life, Accident & Sickness and Involuntary Unemployment.

You can choose a single cover type, two, or three types of cover. It's important to note, Involuntary Unemployment can only be purchased when you have Life or Accident & Sickness cover. 

Loan protection options

Credit protection for your personal loan 

Help ensure your personal loan repayments are covered with Credit Protection insurance from our partner St. Andrew's. This means your repayments could be covered in the case of unexpected job loss, an accident, illness and death, depending on the options selected as part of your insurance.

  • Credit Protection is easy to arrange with payments made monthly by direct debit and no extra fees
  • Comfort that your loan repayments can be met in the face of some of life's unexpected problems
  • With Accident & Sickness or Involuntary Unemployment, after 30 days, regular benefits will be paid until you return to work or the maximum benefit limits are reached.

Credit protection for your home loan 

Credit Protection insurance from our partner St. Andrew's can help put your mind at ease by covering your home loan repayments. This means your repayments could be covered in the case of unexpected job loss, an accident, illness and death, depending on the options selected as part of your insurance.

  • Your Life benefit will remain fixed during the term of your cover rather than reducing with your outstanding loan balance 
  • Receive an early repayment of your Life benefit in the event of a diagnosed terminal illness 
  • With Accident & Sickness or Involuntary Unemployment, after 30 days, regular benefits will be paid until you return to work or the maximum benefit limits are reached. 

Get a quote 

Check your eligibility: 

  • For Accident & Sickness and Involuntary Unemployment cover you must be self-employed, or employed by an organisation carrying on business within Australia, working for at least 20 hours per week
  • Aged 18 to under 61
  • Australian resident 

 Please call between 6am and 6pm (WST) weekdays and 8am and 4pm (WST) Saturdays.

Make a claim 

To make a claim on an existing credit protection policy, please call St. Andrew's between 9am and 7pm (AEST) weekdays.

Important things you should know 

Credit Protection is issued by St Andrew's Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649 and St Andrew's Life Insurance Pty Ltd ABN 98 105 176 243 AFSL 281731 (collectively St Andrew’s). The product is not a product of, nor guaranteed by the Bankwest. St Andrew's is not an Authorised Deposit Taking Institution. Any advice given is of a general nature only and is not based on any consideration of your objectives, financial situation or needs. To decide if a product is right for you and for full details of the terms, conditions, limits, and exclusions that apply to the policy for that product, please refer to the relevant Product Disclosure Statement (PDS) and Policy Wording. If you take out a policy, St Andrew’s will pay Bankwest a commission of up to 20% of premiums. This commission is included in the premium you pay and is not an additional cost to you. The products are optional and you are free to arrange similar cover with another insurer.