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Payment Protection Insurance

Payment Protection Insurance is a policy which covers the policyholder for the monthly instalments on their credit contract in the event that they suffer an insured event below. The policy cover options are specific to the policyholder's source of income at the time of entering into a Credit Contract. The benefits are payable directly to the financier. In the unfortunate event of death, PPI covers the outstanding balance on the loan.

  • The main risk with having finance is if something happens to your ability to earn money. PPI protects you, your family and your credit rating if the worst happens.
  • With only a minimum stand down period and generous cover for up to 60 months, PPI protection truly covers you for the unexpected at the time you need it most.
  • ACC only pays to a maximum of 80% of your income – How would your household react to an instant 20% pay cut?
  • Depending on your circumstances, you chose the level of cover.

What Cover Options are Avaiable?


Insured Events:
Death, Accident, Illness, Business Interruption, Bankruptcy, Terminal Illness, Hospitalisation, and Career


Insured Events:
Death, Accident, Illness, Bankruptcy, Redundancy, Terminal Illness, Suspension, Hospitalisation, Employer Ceases Trading, and Career,  


Insured Events:
Death, Permanent Total Disablement, Hospitalisation and Terminal Illness

Why should you consider Payment Protection Insurance?

  • No Medical examination required to purchase a policy
  • Pre-existing medical conditions covered if no treatment advice in 6 months prior to policy start date
  • Benefits are paid directly to your Financier in relation to your Credit Contract
  • Benefits continue until the end of your Credit Contract
  • Peace of mind for the unexpected
  • Low cost, once only premium
  • Protects you and your family from financial hardship
  • Protects credit rating
  • In the event of death, family/estate does not have to deal with debt and possible repossession
  • Accident and Illness benefits paid from day 1 - provided Accident and Illness > 7 days
  • Redundancy paid from day 1 - provided redundancy > 30 days
  • Redundancy benefit of up to 12 months
  • 15 day cooling off period

Payment protection Insurance is supplied by Autosure NZ. This is only a summary of cover, please speak to one of our Business Managers for full terms, exclusions, conditions, and benefits.


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