In the event you can’t work due to injury or illness this will ensure you have some income coming in which is paid directly to you – NOT THE BANK – to use as you see fit. If you have an accident and receive ACC then you’ll receive both your mortgage repayment protection and your ACC benefit. The policies I offer have benefit periods that will pay you through to 65 if you choose this option, they’re not limited to a 2 year period as most of the Bank’s policies are.
We can also add a redundancy benefit to this cover which is very cost effective – this will pay out for 6 months based on the mortgage repayment figure you choose.
While you’re thinking of this – have you reviewed you mortgage lately? I work alongside Jude Anker from Investor Solutions who can give you a free assessment of your mortgage to ensure you’re saving as much as possible on your mortgage repayments.