some reason you can’t meet your mortgage repayments.Keep your home safe from events outside of your control.
Other Mortgage Repayment plans are also available such as a recurrent disability benefit, so if the same disability or illness occurs within 12 months the waiting period is waived for the second episode. Plus, you’ll get an unemployment benefit that pays a monthly income if you become unemployed.Is your largest expense your Home Loan? How long did it take you to work towards owning your home?
If your household suffered a loss of income due to critical illness or disability, how would you keep a roof over your head?
In these unfortunate circumstances, income can cease or reduce but your home loan repayments don’t! Government assistance can be a struggle to apply for when you are unwell and the amount you may receive is likely to be significantly less than what you have become used to.
Mortgage and Rent Cover pays you an agreed amount of money each month if you can't work in your usual job due to illness or injury. It is designed to cover your mortgage or rent payments. You can also choose to cover yourself against redundancy/bankruptcy.
Mortgage and Rent Cover pays you a regular monthly payment if you're unable to work because you're sick or injured. This is designed to ensure you can go on living in your home while you're not receiving your salary or wages.
Mortgage Protection Insurance provides you with a monthly payment to help you cover the bills if you’ve suffered from injury or illness. It’s easy to apply for by contacting Scott on 03 980 4541 or by email on scott@amsnz.co.nz
Other benefits for Mortgage protection include:
• Receive up to 110% of your Mortgage Repayments, every month you're off work - for up to age 65.
• Select how long you have to be off work before you receive payments
• Choose a payment period to suit you
• Access to lower premiums for a longer wait period
• In most cases no offsets against ACC and ongoing passive income
How much Mortgage protection cover do I need?
The level of Mortgage protection cover you choose will depend on your needs. Things you'll need to consider:
• Do you have mortgage payments to cover?
• How about credit card bills or hire purchases?
• Is your Mortgage covering all your regular spending such as groceries,
electricity bill etc. or does your spouse or partner work and contribute
too?
If your claim is accepted, it's up to you to decide how to use the money. Maybe you'll need to cover bills - such as your mortgage, day-to-day bills, or to ensure that your family's lifestyle is less affected by your inability to work.
We don't offer joint Mortgage protection cover but your spouse/partner can apply for Mortgage Protection from Cigna separately.
If you take a static Mortgage of $50,000.00 per annum for a person 30 years of age with 30 years until retirement, at 65 years of age the loss of Mortgage would be $1,500,000.00.
For more information on Mortgage Protection Insurance please contact us at Advanced Insurance Solutions so we can help you with any questions you might have, and to assist you into the best option for your personal circumstance.
To see how insurance cover would best suit you and your circumstances feel free to contact:
Shane Blummont
M: 021 343 655
Ph: 03 662 9058
Contact us to get free personal mortgage and home loan advice
For discounted interest rates on existing loans
Not quite ready to get in touch? Find out exactly how we help you get the best mortgage available.
