Mortgage Protection Insurance
Mortgage protection insurance helps protect your greatest asset, your home. In the event you are unable meet your mortgage repayments due to sickness or injury you mortgage repayments are paid. If you prematurely die your family is protected and your mortgage is paid in full.
Mortgage protection policies differ significantly and can be a combination of life, income, total and / or permanent disability insurance.
Mortgage protection insurance is often confused with lenders mortgage insurance. Mortgage protection protects you and your asset and a premium is paid yearly while lenders mortgage insurance protects the lender (eg a bank, building society or mortgage manager) in the event you default on a loan. Mortgage insurance is a one off payment made to the lender.
The best way to receive more information about income protection insurance is to discuss your needs with a qualified insurance advisor. They can help you with;
- Getting a 20% rebate for your first year term
- Compare up to 15 different life insurance companies
- Provide quotes and compare policies
- Find the most suitable level of cover for your finance needs
- Get quotes no matter where you live in Australia from a licensed agent