Mortgage Protection Insurance

Mortgage Protection Insurance

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A new roof over your head? Cover your home loan at the same time

A new home represents something different to everyone. But for nearly all of us, it will become one of our most significant assets. And for all the buzz and pleasure in buying a new home, there’s also a fair amount of stress, not least in taking on the responsibility of a mortgage – usually a long-term commitment. Because we all know that down the track, life’s magic moments may be tempered with some not so happy, but equally major, events.

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Key Features Benefit Main Conditions
Life Cover In the event of your death, pays the; original balance of your mortgage OR the amount of cover selected by you as shown on the policy schedule. Any amount remaining after paying out your mortgage is paid into your estate. Cover available up to a maximum of $500,000.
Trauma Cover Pays the amount of cover selected by you in the event of positive diagnosis of any of the listed diseases such as chronic kidney failure, heart attack, coronary artery by-pass surgery, stroke, major organ transplant and cancer. Automatic cover of $10,000. You may elect to increase cover in multiples of $5,000 up to $50,000.
Disability Cover For each day you are unable to work due to illness or injury, Disability cover will pay to your Financial Institution 1/30th of your minimum monthly repayment until you are able to return to work. Maximum payable regardless of number of claims made during the period of insurance is $200,000.
Involuntary Unemployment Cover Should you involuntarily lose your job, for each day you are unemployed, Involuntary Unemployment cover will pay to your Financial Institution 1/30th of your minimum monthly repayment for up to 120 days or until you return to work, whichever occurs first. Maximum payable regardless of number of claims made during period of insurance is $15,000.

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Questions

If you have any questions, please contact us.

Important Notes
Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239545 for Disability and Involuntary
Unemployment and ING Life Limited ABN 33 009 657 176 AFSL 238341 for Life and Trauma.