Mortgage Protection Insurance
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Almost everyone in New Zealand aspires to own their own house.
Once the house is purchased, what then? How does one protect this asset? House and contents insurance ensures the physical protection of the actual house and the contents in it, but what if the mortgage on the home can’t be paid due to death or disability? That is the job of Mortgage Protection. |
Why Mortgage Protection Insurance?
The benefit of Mortgage Protection Insurance is that it pays off the borrowed mortgage amount if you were to die, thus enabling you to leave behind a fully paid up roof over the head of your family. Or, in the case of disability, pay off the mortgage, or the regular mortgage servicing payments that need to be met (depending on how it is structured), ensuring that that roof over your head remains in your ownership.
As with all insurances, different providers have differing rules and benefits around their covers and it is in your best interest to talk to an independent Advisor to determine the most ideal and best value product for your needs, especially when it does not cost you to do so.
Also, remember that most of the time your mortgage lender will try very hard to sell you this insurance themselves with just one insurer’s product on offer - theirs. That's not much of a choice, is it?
So again, it is in your best interest that you organise it through a non-aligned professional Insurance Advisor, like us, to hunt out the best deal out of a range of insurance providers.
As with all insurances, different providers have differing rules and benefits around their covers and it is in your best interest to talk to an independent Advisor to determine the most ideal and best value product for your needs, especially when it does not cost you to do so.
Also, remember that most of the time your mortgage lender will try very hard to sell you this insurance themselves with just one insurer’s product on offer - theirs. That's not much of a choice, is it?
So again, it is in your best interest that you organise it through a non-aligned professional Insurance Advisor, like us, to hunt out the best deal out of a range of insurance providers.
