With rising costs, would you be able to pay your mortgage or rent if you couldn’t work due to an accident or illness?

If it would be difficult, then mortgage protection insurance, also called mortgage and rent cover, might be the solution for you.

What is mortgage protection insurance?

Mortgage protection insurance pays you out an agreed amount of money each month if you can't work due to illness or injury. 

It helps you to cover your mortgage or rent payments so you can continue to live in your home while you're not receiving your usual salary or wages. Mortgage protection cover allows you to keep your family safe and secure while you focus on your recovery. 

What are the benefits of Mortgage Protection Insurance?

• You receive a tax-free monthly amount to pay your rent or mortgage

• Alleviates the stress of having to worry about mortgage or rent payments while you are recovering

• Helps you to protect your valuable assets

• You may receive this payment alongside any ACC benefits

How does mortgage protection insurance work?

You choose an amount you would need to cover your mortgage or rental repayments, agree on a wait period, and specify how long you would like this payment to continue.

If you become injured or ill and can't work, your insurer will make monthly claim payments once your claim has been accepted and your wait period has finished. These continue until you're able to return to work or until the end of the time period you’ve specified, whichever is first.

How much mortgage protection do I need?

The level of mortgage protection cover you need will depend on your specific situation. You’ll need to think about how much you would need to pay your rent or mortgage, and whether you have a partner who is also contributing. Sitting down with an experienced financial adviser is a great way to figure out just how much cover you need to keep you protected.

$100 VOUCHER WHEN YOU WORK WITH US! *

At Union Plus, we work for you and negotiate on your behalf. Our advisers are skilled at finding the best solution for you - not just selling you the most expensive cover!

We understand that each situation is unique, and ‘every dollar counts’. Put us to the test today, and see how much you could save.

Book in for free, no-obligation financial advice with one of our trusted advisers today and receive a voucher to match your first month’s premium (up to $100).

This applies to any new home loans or personal insurance covers (life, trauma, mortgage/income protection, or health insurance).

Fill out the form below to book in your free meeting