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 typically expects you to meet your repayments, 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. An accident or illness during your working life could set you and your family back significantly from a financial perspective. Sick pay and annual leave usually only covers a few weeks of you possibly long absence.
Have you thought about how your dependants 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 repayment cover works when you can’t. There is a range of cover options designed to meet your protection needs.
Mortgage repayment insurance pays a monthly amount that can help you cover your mortgage or rent repayments if you are unable to work because of illness or injury. Mortgage repayment cover can combine some or all of the following:
Lump sum cover (in case of death, serious illness or permanent disability); and
Regular monthly payments when you are unable to work due to sickness or injury.
Available for residential and investment properties as well as tenants to insure their rental payments.
Regular monthly payments for redundancy are available as an optional benefit.
Simple, short application form available for covers up to certain levels.
Additional cover can be included on completion of a full application if required.
We’ll help you find the right mortgage repayment cover, at the lowest premium. If you ever need to make a claim, we’ll assist you with the process through to settlement of your claim.
Funeral expenses usually have to be paid well before estate settlement and insurance payouts. Funeral cover can provide you with peace of mind, knowing that cover is available for you and/or your family’s funeral expenses if the need arrises. Funeral cover is designed to negate the major immediate post-death expense and should cover most, if not all, funeral expenses.