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Mortgage Protection

Obtaining a mortgage for the purchase of a home or investment property is a very exciting and rewarding experience. Purchase of property is also the biggest financial commitment that you will ever make.

Your lender expects you to make your mortgage payments on time, each month every month for the life of the loan. However life sometimes has a habit of interfering in the best laid plans…

What happens if you are unable to work due to illness or injury?

Or if the worst happens and you die prematurely?

Could your dependants keep up the payments and retain the property?

This is where Mortgage Protection insurance comes in and provides the following benefits:

  • Life cover equal to at least the amount of mortgage debt is a good idea to have on all parties to the loan. This means in the event of the untimely death of a borrower, there is sufficient cover to repay the loan and leave the surviving borrower with a debt free home.
  • Monthly Mortgage Repayment Cover can be arranged to meet your mortgage payments in the event that you are sick and unable to work. This benefit has a waiting period and is then paid until you return to work and could be paid until age 65 if you are unable to ever work again.
  • Redundancy cover can also be included in your cover to provide some assistance if you lose your job.
  • Trauma can happen to anyone at any time and can have a major impact on your financial situation. In addition to the most common conditions such as heart attack, cancer and stroke, there are approximately another 40 conditions that can trigger a trauma claim. This will pay out a lump sum that will help offset the costs of medical care and replace lost income.


To find out more regarding protecting your mortgage payments and other insurance matters, contact me today.