Loan Protection Insurance – Providing Financial Protection in Uncertain Times

The Australian unemployment rate rose to 4.4% in November 2008 - the highest it has been in 12 months.  The outlook for 2009 is bleak, with a gradual and continuing rise in unemployment expected, with the national rate likely to exceed 6%.

Economic analysts attribute the projected increase in the unemployment rate to weakening labour markets across the finance, manufacturing, mining, construction and retail sectors as jobs are shed in response to slowing domestic and international demand and declining profits, courtesy of the global financial meltdown.

Many consumers use personal finance to purchase their car or motorcycle. How many of these consumers will be affected by the forecast rise in the unemployment rate?

At Swann, an Australian owned company, we care about the financial wellbeing of Australian consumers. When taking out a loan to finance your car or motorcycle, we recommend you think carefully about your ability to meet your loan obligations if an unexpected life event arises.

In the unfortunate circumstance that you are no longer working due to involuntary unemployment, sickness, accident or hospitalisation, our Loan Protection Insurance will cover your loan repayments until you get back on your feet. Additional options for Life & Trauma cover are also available, which will payout, or contribute to the payout, of your total outstanding loan balance.*

In difficult times the last thing you should have to worry about is how to make your loan repayments. Have the peace of mind of knowing that you’re covered when you choose to be protected by Swann’s Loan Protection Insurance, conveniently available from your Swann motor vehicle or motorcycle authorised dealer at the time of taking out your loan.

* Please refer to the Product Disclosure Statement for full terms and conditions.

This website content includes general advice only and does not take into account individual objectives, financial situation or needs (‘personal circumstances’).  Before using this advice to decide whether to purchase insurance, you should consider the appropriateness of it having regard to your personal circumstances, plus obtain and consider the current Product Disclosure Statement and Insurance Policy (PDS) for this product.

The insurance product is issued by Swann Insurance (Aust) Pty Ltd ABN 80 000 886 680 (Swann).  A PDS for this product can be obtained from Swann or its authorised representative, or by clicking on the link below.  You should consider the PDS in deciding whether to buy or hold the product.