The purchase of your home is one of the largest financial commitments you will make.
Once you have committed yourself to a home loan, your lender expects you to meet your repayments without fail, even when you can’t work due to sickness or injury.
No one likes to think about serious illness or death but it makes sense to reduce the financial impact of such possibilities.
Have you thought about how your dependents would repay the mortgage on your home if you were to die suddenly or be unable to work due to serious illness or a prolonged period of disability?
Mortgage Protection Insurance works when you can’t through a range of cover options that are designed to meet your protection needs.
Monthly Mortgage Repayment Cover – available for your own residence and investment properties.
Your monthly benefit becomes payable should you become totally unable to work due to sickness or injury. Your maximum monthly benefit is either 110% of your mortgage repayments or 40% of your income.
Other income such as ACC is not offset against this benefit unless your mortgage is repaid. Cover in excess of 110% of your mortgage repayments or 40% of your income may be available under our Top Up Income Protection.