What is Consumer Credit Indemnity for?
When your unable to, we could cover repayment instalments for a specific period on a finance loan contract during medical or work-related situations. Imagine unexpectedly being made redundant – wouldn’t that put pressure on finances and your ability to meet your loan obligations – even just for 3 or 4 weeks. That’s where Consumer Credit Indemnity or CCI steps in – Your loan repayments on the applicable contract can be met for a specific time or in some cases until you are able to find new work.
What Events will CCI Cover?
CCI indemnifies or compensates you for certain situations, dependent on your policy, which could include:
- Death by Accident – In the event of Death by Accident your Finance Contract will be paid off.
- Sickness Cover – In the event you are unable to work due to a sickness then for a specific time, we will pay your instalments.
- Temporary Total Disablement – In the event you are unable to work due to an accident then for a specific time we will pay your instalments.
- Redundancy – In the event you are made redundant and cannot find work then for a specific time we will pay your instalments.
Why should I get Credit Contract Indemnity Insurance?
In these uncertain times, Autolife CCI could prove to be beneficial to protect yourself from situations where you might not be able to earn and paying the ongoing bills could be tough. Its specific benefits include:
- Protecting your vehicle or asset from repossession when you’re unable to meet repayments for a period due to certain circumstances.
- Taking the pressure off expenses during sickness or redundancy.
- When a finance company requires extra cover over their loan to you.
*Credit Contract Indemnity is underwritten by Beneficial Insurance Limited. Refer to your individual Policy Document that will be provided on completion of your insurance application for full Policy Conditions.