Secure Mortgage Protection Insurance

Understanding Mortgage Protection Insurance

Mortgage Protection Insurance helps homeowners cover their mortgage repayments in case of death, disability, or serious illness. This insurance protects your home and ensures your family isn’t burdened with mortgage payments during tough times.

Why is Mortgage Protection Insurance Needed

• Financial Security: Mortgage protection insurance covers your mortgage repayments if you can’t work due to death, disability, or serious illness. This prevents foreclosure and ensures your family can stay in their home.
• Peace of Mind: Knowing your mortgage is covered in unforeseen circumstances lets you focus on recovery without financial stress.
• Family Protection: If you’re the primary income earner, this insurance ensures your family isn’t left with mortgage payments, providing financial stability during difficult times.
• Simple Application: Obtaining this insurance is often quicker and easier than other types of life or income protection insurance.

Key Features of Mortgage Protection Insurance

• Death Benefit: Pays a lump sum or ongoing payments to cover your mortgage if you pass away. This ensures your family can stay in their home without financial stress.
• Disability Cover: Provides financial support if you become permanently disabled and can’t work. It covers your mortgage repayments and helps maintain your standard of living.
• Critical Illness Cover: Covers mortgage repayments if you’re diagnosed with a serious illness like cancer, heart attack, or stroke. This allows you to focus on recovery without worrying about your mortgage.
• Income Protection: Some policies include income protection features that replace part of your income if you’re unable to work due to illness or injury. This ensures you can continue meeting your mortgage obligations.
• Redundancy Cover: Optional cover provides financial support if you lose your job due to redundancy, helping you cover your mortgage repayments while you look for new employment.

What Mortgage Protection Insurance Typically Covers

• Death: Provides a lump sum payment or ongoing mortgage repayments if you die, ensuring your family can stay in their home.
• Permanent Disability: Offers financial support if you’re permanently disabled and can’t work, covering your mortgage repayments and maintaining financial stability.
• Critical Illness: Covers mortgage repayments if you’re diagnosed with a serious illness, allowing you to focus on recovery.
• Income Protection: Replaces part of your income if you can’t work due to illness or injury, helping you continue meeting your mortgage obligations.
• Redundancy: Provides financial support if you lose your job due to redundancy, covering your mortgage repayments while you look for new employment.

How iQuotes works

iQuotes is a free quote-request service. We are not an insurer and not a broker, and we do not give advice.

1. Tell us what you need insured: one short form covering the risk, where you are, and when cover needs to start. No paperwork and no account.
2. We pass it to matching brokers: your request goes to Australian brokers who write that class of insurance, and they contact you directly.
3. You deal with whoever you prefer: compare what you are offered and take it up with the broker you choose. The advice and the policy come from them.

There is no cost to you at any stage and no obligation to accept anything you are offered.

Secure Mortgage Protection Insurance