Taking out payment protection either through insurance or a repayment waiver can ensure payments will continue to be made in the event of redundancy, illness or death. Having this peace of mind can give you the confidence of ensuring obligations can be met if the unexpected occurs.
Protecta Payment Protection Plan
This cover is mandatory for all loans of type EXTENDED and LONG unless proof of other comparable cover you already have is provided. Other exclusions will occur if your situation does not meet the general terms of Protecta. The fee for this is charged at cost from Protecta with the range being from $42.75 - $170 per borrower depending on the amount borrowed, type of cover required and number of borrowers on the loan agreement.
Click here to view the Payment Protection Plan policy document.
A repayment waiver is an agreement between DCO FINANCE and a borrower under which DCO FINANCE, for an additional fee, agrees to waiver their right to any amount payable under the loan agreement in the event of redundancy, sickness, injury or death of the borrower. It is not an insurance and is completely voluntary. The fee for this is charged with the range being from $15 - $600 per borrower depending on the amount borrowed, type of cover required and number of borrowers on the loan agreement.
For FLEXI loan agreements, you can opt to have a repayment waiver for a cost of $5 which is charged at the end of each calendar month for the following month (or part thereof).
Click here to view the general repayment waiver agreement, terms and conditions.
Contact us if you would like a quote based on your specific requirements and situation.