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home loan protection

Posted: 21 Mar 2014, 14:47
by superbug
Hi all,
has anyone got home loan protection or income protection as I can not get it with my bank as I work with hazardous chemicals. does anyone else have this problem?

Thanks Lucy

Re: home loan protection

Posted: 24 Mar 2014, 07:10
by sunray18
my goodness! have you told them how minimal is the amount you handle?

Re: home loan protection

Posted: 24 Mar 2014, 07:29
by superbug
Yes but they consider it hazardous regardless of how much is used. so anyone that handles hazardous (anything that can harm you is there definition)chemicals can not get home loan protection and perhaps income protection.

Re: home loan protection

Posted: 24 Mar 2014, 07:58
by lada
OMG,
I had no idea we are in the that category/ Where is our "danger money" that comes with this type of industry?
They cannot be serious!!
Lada

Re: home loan protection

Posted: 24 Mar 2014, 08:07
by superbug
not sure if science teachers are treated the same way

Re: home loan protection

Posted: 24 Mar 2014, 08:10
by lada
If not, they should be. They are the ones who want to do banned pracs and I have to insist that we cannot do it. eg lead oxide reduction with carbon. We now use copper oxide and get lovely coppery streaks of pure copper.
Lada

Re: home loan protection

Posted: 24 Mar 2014, 08:14
by Lis
Check with a financial advisor or go direct to an insurance company or ask at the bank to talk to someone else, I think they may getting a bit confused, which bank is it?

Re: home loan protection

Posted: 24 Mar 2014, 08:17
by superbug
st george but the rule was from westpac

Re: home loan protection

Posted: 24 Mar 2014, 08:27
by macca
superbug wrote:not sure if science teachers are treated the same way
I'd like to know that one. :coffee:

Re: home loan protection

Posted: 24 Mar 2014, 08:40
by littltesttube
Are they aware that these chemicals are given to children?? :cheesy:

Re: home loan protection

Posted: 24 Mar 2014, 08:56
by superbug
Ha ha not sure littltesttube.

Re: home loan protection

Posted: 24 Mar 2014, 09:11
by fibreweb
Was " working with dangerous chemicals" marked in a box as the form was being filled out or is it something the bank deems is part of being a school lab assistant.

Re: home loan protection

Posted: 24 Mar 2014, 09:21
by Labbie
My husband was a Station Officer with the NSW FB Fire service, carried a fire arm, etc etc, we were covered for Income protection, and House insurance. Sure seems so silly to me.

Re: home loan protection

Posted: 24 Mar 2014, 09:34
by superbug
I was asked do i work with hazardous chemicals ? yes or no?
so my answer was yes! i did try to tell them i use a fume cupboard and PPE. but they werent interested to hear that. just yes or no! I tried to apply over the phone.

Re: home loan protection

Posted: 24 Mar 2014, 11:31
by coxy123
Do you think that perhaps you should have just said you were a School Administration Officer and not specified exactly which faculty you work in? How can they not insure us? Perhaps our employers need to cover home loans.

Re: home loan protection

Posted: 24 Mar 2014, 11:36
by superbug
I didnt want to do that, as I would think that i am covered and when they have to pay me out, then they will say oh sorry you told us that you did this job but that is not the case so we arent paying you.

Re: home loan protection

Posted: 24 Mar 2014, 11:40
by macca
superbug wrote:I didnt want to do that, as I would think that i am covered and when they have to pay me out, then they will say oh sorry you told us that you did this job but that is not the case so we arent paying you.
Again would it work that way for Science Teachers, if they say no to working with hazardous chemicals ? Sorry but some wouldn't know even when you give them the SDS. What about farmers it's a little scarey I would love to know more.

Re: home loan protection

Posted: 24 Mar 2014, 12:25
by superbug
I asked for an example of what they would consider hazardous and the answer i got was like an "acid". no idea about anything specific.
so i will be telling my supervisor i cant use lemon juice, lol.
my hubbie works with acids as a fitter to strip the metal clean, so i suppose neither one of us would be eligible.

Re: home loan protection

Posted: 24 Mar 2014, 12:43
by smiley
Well, having just been on 12 months of income protection, check with your Super mob first. Very often you will already be insured for income protection through them, and sometimes additional income protection is an unnecessary add-on, depending on the amount of cover that you can get from your Superannuation.

Re: home loan protection

Posted: 24 Mar 2014, 13:04
by superbug
I will have to check that out smiley. Thanks! I was looking at getting home loan protection when i was denied by the bank.