Loan Repayment Insurance helps members meet their regular loan repayments should they become sick, disabled, unemployed or pass away.
We provide insurance cover to suit Mortgages Loans, Personal Loans and Car Loans. Our insurance options cover your loan repayments or may even pay out your loan for you, with affordable premiums packaged into your loan.
Coverage Summary
| What is covered | Loan Insure (personal and car loans) | Mortgage Insure |
|---|---|---|
| Choose death and/or disability cover with an option to add trauma and involuntary unemployment benefits |  |
|
| Up to $250,000 cover in the event of death | |
|
| Up to $50,000 cover in the event that you suffer a defined trauma | |
|
| Disability cover - up to $1,500 per month in the event you are disabled | |
n/a |
| Disability cover - covers your mortgage repayments up to $3,000 per month for 24 months in the event you are disabled | n/a | |
| Involuntary unemployment cover - up to $1,500 per month for up to 3 months in any 12 month period to a maximum of $5,000 during the period of insurance | |
n/a |
| Involuntary unemployment cover - up to $10,000 benefit during the period of insurance with a maximum of 3 monthly mortgage payments in any 12 month period | n/a | |
| Easy to afford premium can be financed into your loan and repaid over the loan term | |
|
Fast efficient claims
The CUNA Mutual Group Claims Service Centre is accessible 24 hours a day, 7 days a week to support you throughout the claims process.
More Information
Questions?
If you have any questions or would like a quote, please contact us 
Terms and Conditions apply: Before making a decision about your insurance needs, please refer to the Product Disclosure Statement and Supplementary Product Disclosure Statements available from First Option Credit Union. Issued by CUMIS Insurance Society Inc. ABN 72 000 562 121 AFSL 245491 (Incorporated in the United States. The members of the Society have no liability) trading as CUNA Mutual General Insurance and/or CUNA Mutual Life Australia Limited ABN 83 089 981 073 AFSL 245 492.
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