Mortgage Protection - How it works?
Mortgage Protection provides a monthly payment if you are unable to work due to sickness or injury. The policy is designed to pay the mortgage to protect your family home if you can’t work.
For most people buying the family home is the biggest financial commitment they will make. It often involves more than a 25 year financial responsibility to meet regular repayments. Mortgage Protection gives you peace of mind that your mortgage will be paid and the family home will be safeguarded if you can’t work due to accident or illness
Wait Period - The monthly payments begin after the ‘wait period’. You can choose your wait period (30, 60 or 90 days).
Benefit Period - The monthly payments continue until you return to work or your payment period ends. You can choose your benefit period; two years, five years, or to age 65 or 70.
The details of each policy may differ from provider to provider which is why it is important to compare.
- Pays a monthly amount
- Worldwide Cover
- No offsets (ACC Weekly Compensation)
- Payments are tax free
- Recurrent Disablement Benefit
Need More Information
If you would like more information or have any questions send us an email at email@example.com or give us a call. We can provide helpful information that allows you to compare the features and benefits from New Zealand’s leading insurance providers.