Life & Personal Risk Insurance

While you can’t predict the future, you can be prepared.

Let Auswide Bank help protect you and your loved ones from financial hardship.

We can refer you to qualified financial advisors who can provide a range of life and personal risk insurance options.

Alternatively, if you take out a home or personal loan with us, we can also arrange Consumer Credit Insurance which can help with your loan repayments in the event of your death, disability or involuntary unemployment. There are two types of consumer credit insurance to choose from based on your loan:

Five Year Mortgage Repayment Insurance

Take comfort that your monthly Auswide Bank home loan repayments will be covered (up to the policy limits).

  • Disability cover - Helps you meet your Auswide Bank mortgage repayments if you are unable to work due to injury or illness for at least 21 consecutive days - up to a maximum of 24 months (12 months maximum for mental illness claims).
  • Involuntary Unemployment cover - Helps you meet your Auswide Bank mortgage repayments for up to $3,000 per month if you become involuntarily unemployed for at least 21 consecutive days. Benefits provided is limited to:
    • a maximum of 120 days per claims;
    • $10,000 for all involuntary unemployment claims for each insured.
  • whichever occurs first.
  • Death cover - Pays the outstanding balance of your Auswide Bank mortgage if you die - up to a maximum of $750,000 in total.
  • Choice - You choose your own cover combination:
    • Death, Disability and Involuntary Unemployment;
    • Disability and Involuntary Unemployment;
    • Death and Disability;
    • Disability only, or;
    • Death only.
  • Flexibility - Cover may be held by one or both borrowers*.
  • Covered 24 hours a day, 7 days a week

Personal Loan Cover Insurance

Take comfort that your monthly Auswide Bank personal or car loan repayments will be covered (up to the policy limits).

  • Disability cover - Helps you meet your Auswide Bank personal or car loan repayments if you are unable to work due to injury or illness for at least 14 consecutive days, up to a maximum of $80,000 in total. Benefit applies for as long as you are disabled or until the policy ends, whichever happens first (12 months maximum for mental illness claims).
  • Involuntary Unemployment cover - Helps you meet your Auswide Bank personal or car loan repayments if you become involuntarily unemployed for at least 14 consecutive days. Benefit provided is limited to:
    • A maximum of 120 days per claim;
    • $10,000 for all involuntary unemployment claims for each insured.
  • whichever occurs first.
  • Death cover - Pays the outstanding balance of your Auswide Bank personal or car loan if you die - up to a maximum of $80,000 in total.
  • Choice - You choose your own cover combination:
    • Death, Disability and Involuntary Unemployment;
    • Disability and Involuntary Unemployment;
    • Death and Disability;
    • Disability only, or;
    • Death only.
  • Flexibility - Cover may be held by one or both borrowers*.
  • Covered 24 hours a day, 7 days a week

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This information is a summary of features & benefits only – for more detailed information please read our Loan Cover Insurance Product Disclosure Statement or Mortgage Repayment Insurance Product Disclosure Statement. It is important that you understand that this insurance is optional and you can only purchase this insurance if you have a loan.

Auswide Bank Ltd ABN 40 087 652 060 AFSL No. 239686 arranges this insurance as agent for Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No. 234708 (Allianz). The Disability and Involuntary Unemployment covers of Five Year Mortgage Repayment Insurance and Loan Cover Insurance are underwritten by Allianz. The Death cover of Five Year Mortgage Repayment Insurance and Loan Cover Insurance is underwritten by Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFSL No. 296559 (Allianz Life). Allianz acts as Allianz Life's agent in offering and administering the Death cover.
We do not provide any advice based on any consideration of your objectives, financial situation or needs. Policy terms, conditions, limits and exclusions apply. Before making a decision, please consider the relevant Product Disclosure Statement available from our website. If you purchase this insurance, we will receive a commission that is a percentage of the premium. Ask us for more details before we provide you with services. Where insurance premium is paid as part of a loan repayment, interest may be payable on that premium.
* For Death cover, the insurer will not pay more than one claim, even if the policy covers more than one insured. For Disability or Involuntary Unemployment cover, the insurer will not pay more than one benefit at one time regardless of whether one insured is both unemployed and disabled, or more than one insured is disabled and/or unemployed.