Disability or Involuntary Unemployment
If you encounter or suffer from one of these events during the period of cover and as a result you wish to Handback your vehicle to the dealer, providing there is a Shortfall, then Eric will pay the Shortfall amount to the financier up to the benefit limit of the level of cover you selected.
A Shortfall is the difference between the amount owed to the financier and the greater of;
- the value of the vehicle as reasonably determined by Eric as the trade value of the current edition of the Glass’s AutoEdge (for a Vehicle which is the equivalent age, make, condition and model as your vehicle), and
- the price paid by the dealer following the Handback.
PAYMENT ASSIST BENEFIT – RETAIN your vehicle
Sick, ill or injured
- If you are unable to perform your employment for a period of greater than 21 days as certified by a medical practitioner, Eric will pay up to 6 monthly repayments directly to your financier.
Unemployment as a result of redundancy, retrenchment or employer ceasing to operate.
- Providing you are employed no less than 20 hours per week, and you become unemployed for a
period of greater than 21 days, Eric will pay up to 6 monthly repayments directly to your financier.
Following use of this benefit, you may still choose to Handback your vehicle, should you still be unable to perform your employment.