Payment Protection Plan

What is a PROTECTA Insurance Payment Protection Plan? What Does it Cover?

Death Cover

In the event of your death the outstanding balance of your finance agreement (excluding any arrears of more than 3 months) will be paid, leaving your family a debt free asset when they need it most.

Disablement Cover

If you are unfortunate enough to have an accident or illness which prevents you from working, Payment Protection Plan pays your finance instalments (after a seven-day qualifying period), until you are able to return to work or your repayments are paid off in full, less arrears (excluding any residual payments) prior to your 70th birthday.

Terminal Illness Cover

In the event of being unable to work through any illness or accidental injury which is likely to result in your death within 6 months of the date on which the injury was diagnosed, Payment Protection Plan pays off the repayments in full, less arrears.

Redundancy Cover

If you are made involuntarily redundant from your permanent employment, Payment Protection Plan will pay your repayments for 180 days (No amount payable for the first 28 days), up to $10,000 or until you find work, whichever comes first.

Bankruptcy Cover

If you are self employed and declared bankrupt by the New Zealand High Court, Payment Protection Plan will pay your repayments for 180 days (No amount payable for the first 28 days), up to $10,000 or until you find work, whichever comes first.


This is NOT policy wording, but a summary of the cover.

If you have any questions, please have a look on our Frequently Asked Questions page. We might have an answer for you there. Of course you can also contact us.