Navigate Homeownership without Financial Stress
Many homeowners across New Zealand fear the possibility of home repossession if they encounter difficulties in paying their mortgage. Mortgage protection insurance addresses this concern by covering repayments for a specified period or until retirement in the event of unforeseen circumstances. This insurance typically provides financial support if you face situations such as redundancy, mental health conditions, illness, injury that impact your ability to pay.
Depending on the policy, Mortgage Repayment Insurance covers the entire mortgage or a portion of it for a specified period – typically ranging from 2 years up to the age of 65 or 70, depending on the selected benefit period.
Many insurance companies allow coverage of 110% to 115% of your mortgage instalments, providing additional funds that can be used to address other expenses of your choice.
While it proves to be an effective product for many, a significant number of New Zealand homeowners end up overpaying by opting for expensive cover. Therefore, it’s important to thoroughly comprehend the details of each policy. We will compare policy costs, inclusions, and exclusions among different insurers to secure the best deal for you. We offer personalised advice to each client because we know that each individual or couple has unique needs, mortgage balances, and expectations.
