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Shopper’s Protection Insurance

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How does it work?

If:

  • you have been working for at least six consecutive months when you become involuntarily unemployed, and
  • you are continuously unemployed for at least 30 days,

we'll pay to your account a monthly benefit of 10% of the balance owing (at least $30 and up to $1,000 per month) on the statement immediately before the date you were notified of your impending unemployment, until you return to work.

We calculate benefits on a daily basis, that is, 1/30th for each day of involuntary unemployment for which you can claim. For example, if after a 30 day qualifying period you are unemployed for a further 15 days, we'd pay 45 days.

Continuous and regular employment for salary or wages, including self-employment, a partner in a partnership, full-time, part-time, contract or seasonal worker, or if you are contracted for a specified season, period or task.

If you are an employee:

  • you stop working as a result of being terminated or being made redundant by your employer, where the job loss is not of your choosing, or
  • you accept the terms of redundancy, offered by your employer, due to organisational downsizing or restructure.

If you are self-employed or in a business partnership, you stop working and it's not of your choosing, because:

  • you stop the business trading permanently or start to wind it up,
  • the business is placed in the hands of an insolvency practitioner, or
  • for partnerships, you stop trading permanently or dissolve or start to dissolve the partnership.

If you work on a contract or seasonal basis, you stop working as a result of being terminated or made redundant by your employer before the agreed expiry date of the contract, season or task, where the job loss is not of your choosing.

If you leave your job because you have to provide regular and sustained care for a family member without receiving an income (other than Centrelink Carer's Allowance or equivalent), where the accident, condition or disability which caused this need for care, occurred after the policy started.

Your 28 Degrees Platinum Mastercard account with Latitude Finance Australia (LFA) ABN 42 008 583 588 Australian Credit Licence number 392145.

For the Disability and Involuntary Unemployment benefits, the closing balance on your account, less any overdue amounts, on the statement immediately before the date of the accident, illness or injury causing disability or the date you were made involuntarily unemployed.

For the Life benefit, the outstanding balance on your account at the date of your death, excluding any overdue amounts, fees and other charges imposed on any overdue amounts.

Continuous and regular employment for salary or wages, including self-employment, a partner in a partnership, full-time, part-time, contract or seasonal worker, or if you are contracted for a specified season, period or task.

If you are an employee:

  • you stop working as a result of being terminated or being made redundant by your employer, where the job loss is not of your choosing, or
  • you accept the terms of redundancy, offered by your employer, due to organisational downsizing or restructure.

If you are self-employed or in a business partnership, you stop working and it's not of your choosing, because:

  • you stop the business trading permanently or start to wind it up,
  • the business is placed in the hands of an insolvency practitioner, or
  • for partnerships, you stop trading permanently or dissolve or start to dissolve the partnership.

If you work on a contract or seasonal basis, you stop working as a result of being terminated or made redundant by your employer before the agreed expiry date of the contract, season or task, where the job loss is not of your choosing.

If you leave your job because you have to provide regular and sustained care for a family member without receiving an income (other than Centrelink Carer's Allowance or equivalent), where the accident, condition or disability which caused this need for care, occurred after the policy started.


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Click to add insurance to your account now or call us on 1300 552 079.

Need to make a claim?

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Download the full 28 Degrees Mastercard Shopper’s Protection PDS