1. Death of the main borrower whose name appears on this document. Benefit – waiver of outstanding instalments as at date of death excluding any arrears. If 2 borrowers (excludes guarantors) then a 50% loading of the fee applies. (optional)

• 2. Accident: Total disablement of the client from attending to employment as a result of accidental bodily injuries and you receive ACC payments as a direct result of the accident. Benefit – waiver of instalments excluding any arrears calculated on a daily basis provided that there shall be no waiver for the first 5 days of such disablement.
• 3. Illness: Any illness unless specifically excluded (pre-existing condition) which causes total disablement of the Client from attending to employment provided the illness does not become manifest within 28 days of the commencement of this Plan. Benefit – waiver of instalments excluding arrears calculated on a daily basis provided that there shall be no waiver for the first 5 days of such disablement.

  You cannot apply for benefits in connection with death or disability which is directly or indirectly caused by or results from any illness, injury or degenerative pre-existing condition immediately preceding the commencement date of this Plan.

  For the purpose of this Plan Accident means unexpected and unintended by you, including unexpected condition or disease. If 2 borrowers (excludes guarantors) then a 50% loading of the fee applies. (optional)

• 4. Redundancy: Redundancy other than voluntary redundancy from full time employment resulting in unemployment for not less than 7 days, provided that at commencement of this cover the borrower did not know or ought to have known that redundancy was possible, probable or likely. : Full time employment” shall mean working for salary or wages for a minimum of 30 hours a week. Such expression shall not apply to self-employed persons or working directors. Redundancy benefit does not apply to employees on 90 day trial, a casual, seasonal or temporary worker employed on other than a casual, temporary or seasonal basis.

No benefit under this Plan shall be available to you in respect of:

1. Any occurrence consequent upon:

• Earthquake, volcanism, tsunami or other seismic event.
• Redundancy due to cessation of work where the work is of a seasonal, contractual, self-employed or temporary nature where the Client is employed for a specified period or by reference to specified work and becomes unemployed at the expiration of the period or on completion of the work.

2. Any occurrence happening to the Client whilst:

• Engaging in a criminal act
• Injury caused by or a result of being under the influence of intoxicating liquor, narcotics or drugs, or illness/disease caused by intoxicating liquor narcotics or drugs.

3. Any occurrence attributable either wholly or in part to:

• Pregnancy or childbirth
• Suicide or intentional self-injury or deliberate exposure to exceptional danger (except in an attempt to save human life)
• Alcoholism, chemical or drug dependency
• Redundancy, which is notified or occurs within 60 days of commencement of this plan.

4. No benefit shall be payable as a consequence of, or in any way attributable to any medical condition existing prior to the inception date of this Plan.

Disability – You must, as soon as practicable after the injury or the commencement of the illness, go to a registered medical practitioner and, if necessary, keep going regularly to receive advice and attention. These visits are to be at your expense.

We may require you to undertake medical examinations for our confidential information.

Disability begins when you become disabled as certified by a registered medical practitioner, and ends when a registered medical practitioner declares you fit to resume full time employment.

Redundancy
Redundancy begins when you register as unemployed with Work and Income New Zealand and ends when you obtain full-time employment. While you are redundant, you must use your best endeavour’s to find full-time employment.

You must provide the last 4 weeks bank statements every month.

Time Limitation
To apply for a benefit under this policy must be made to WeCare Finance Ltd within four weeks of the date of the event giving rise to this application.

Change in Circumstances

You must inform us immediately if you change your name or address or contact details.

Duty of Disclosure

Subject to the rights set out in the Criminal Records (Clean Slate) Act 2004 (“Clean Slate Act”), you are under a duty to disclose all material information to us whether the information is asked for or not. Material information is information that might influence our decision to to include a protection Plan as part of your loan. All information given must be complete and correct. If you have any doubt as to whether a fact is material then it should be disclosed. The duty to disclose all material information occurs prior to the commencement of your plan. Failure to disclose all material information may result in us avoiding your application a benefit will be declined and no refund of any premium paid under this Plan. This means your Plan would be deemed never to have existed and any applications would not be payable.

PAYMENT PROTECTION PLAN

The purpose of this payment protection policy is, on acceptance of a valid application, to waive some or all of any amount you  owe  to WeCare Finance Ltd under the loan agreement if;

• (Option Bronze) Total Protection, Death only.
• (Option Silver) Death, Accident, Illness
• (Option Gold): Death, Accident, Illness and Redundancy.

WeCare Finance Ltd agree to provide the benefits of this Plan subject to the payment of premiums and the definitions, exclusions and conditions of this Plan. If there are two borrowers on this waiver it shall be a joint plan with only 50% (unless the 50% premium for both borrowers was included in the loan). The plan will begin on the date that the loan contract comes into effect. The maximum benefit payable under this Plan is $15,000.00. If the total repayments (as nominated in proposal) exceed $15,000.00 then all benefits under this policy shall be calculated on the basis that total repayments were $15,000.00 only. It is acknowledged that the benefits of the waiver will be retained by WeCare Finance Limited. The cost of this Plan is non-refundable.

To qualify for protection on the terms offered in this policy, you must be between the ages of 18 and 65.

ADDITIONAL PROTECTION (Optional)

Where the borrower(s) elect to have additional protection they may request that one or both of the following PLANS be added to the finance amount in which case they will be revealed in the Disclosure Statement and Credit Contract under “Credit Details”. The PLAN(s) will be included in the finance and shown together with any other fees under Total amount advanced to the borrower.

The Fee will vary depending upon the amount financed, term of the loan and type of plan chosen.

You agree that where you elect to have loan repayment plan or guaranteed asset plan that such protection is optional and not required as a condition of finance being granted.