Vehicle Protection is a consumer credit insurance (CCI) product. It is an optional form of loan protection, which is designed to protect a borrower’s loan shortfall obligation when the borrower, together with their financier agree to hand back the vehicle and terminate the Finance Contract or to protect a borrowers loan repayment obligations (where available) due to the borrower experiencing certain defined events.
The extent of loss to which the Policy applies is measured by reference to the borrower’s liability under the
Finance Contract (subject to certain benefit limits as specified in this PDS). It is important that You read this PDS, including the Policy Wording, carefully to understand when the Policy Will Cover Your Shortfall or loan repayments and when it will not.
Some of the circumstances in which you can claim on this policy is due to critical illness, disability, restrictive medical conditions, Employer approved leave, Involuntary unemployment, International job transfer, and self-employed bankruptcy are some of the defined events.
See the VRP Product Disclosure Statement for more information