If there’s one thing you can’t predict – it’s the challenges life will throw at you. In the event you find yourself no longer earning an income – you need to make sure your house is safe. With mortgage protection insurance, you know your immediate expenses will be covered which will help you keep the roof over your head.
Most mortgage protection policies will require you to choose a monthly payment amount to protect, a wait period before your cover starts being paid out and a set term during which you will receive your monthly payouts. These payments will be paid out by the insurer until the expiry of your set term, or until you are fit and able to return to work, whichever comes first.
There are also options to add on benefits like redundancy cover, so if the unexpected happens, your home can still be secure while you find a new job.
Mike Pero has access to a panel of mortgage protection insurance providers that offer products for all types of earners – so speak to an adviser today.
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Mike Pero (New Zealand) Ltd Copyright © 2020 All rights reserved | Lending and policy criteria and terms and conditions apply. Content on this website is general in nature and is not a recommendation, opinion or guidance to any individuals in relation to acquiring or disposing of a financial product. Readers should not rely on this content and should always seek specific financial advice appropriate to their own individual circumstances.