If illness or injury prevents you from working, your mortgage and bills don’t stop. Mortgage Cover and Income Protection provide a monthly benefit to keep your finances on track while you focus on getting better. We work with all leading providers to find the right waiting period, benefit period and structure for your situation.
Then this cover is worth a conversation.
Mortgage Protection Cover pays a monthly benefit specifically to cover your mortgage repayments — and importantly, it is NOT offset by ACC payments. Income Protection replaces a percentage of your broader income if you cannot work, but IS offset by ACC and other disability benefits. Many clients hold both for comprehensive protection.
You can choose a benefit period of 2 years, 5 years, to age 65, or to age 70, depending on your occupation and insurer. A longer benefit period provides more protection but comes with a higher premium.
The waiting period is the time you must be off work before benefits begin. Common options are 4, 8, 13, 26 or 52 weeks. Choosing a longer waiting period reduces your premium — your adviser will help you find the right balance based on your savings and circumstances.
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