Mortgage Insurance

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What is Income Protection Insurance?

WHAT IS INCOME PROTECTION INSURANCE? Income Protection Insurance will replace your income when you are unable to work because of sickness or accident and is normally it is paid as a monthly benefit. It’s designed to ensure that you can still afford to meet your household expenses and financial obligations while you are unable to work, and will continue to do so until your policy expires or you can return to work. HOW DOES INCOME PROTECTION INSURANCE WORK? Regardless of whether you have an accident at work or away from work, or a sickness stops you from working, money is [...]

Comprehensive mortgage insurance

Mortgage Insurance This cover can come with a number of optional add on benefits which I touched on in another article.  In this article I a want to help you understand some of the differences and in what situations you should consider adding optional benefits on your mortgage insurance. The basic cover normally consists of two core benefits, and the simple explanations are as follows; Life Cover: In the event of your death the insured amount is paid to the lender to repay the full balance of the mortgage (assuming that your cover is the same or greater than than [...]

How mortgage insurance works

Mortgage insurance comes in a number of variations and it is important to understand these variations.  You need to understand what you are covered for and what you are not covered for. You should talk to your adviser and find out what are the optional extras are which can be included but may not be in your current cover. Mortgage Repayment Insurance Normally, there is a base cover which is a life insurance benefit, so in the unfortunate event of death of the person (or persons) insured, the insurer will pay the insured amount to the lender and hopefully the insured [...]

Is your home insurance the right amount?

Home Insurance You may have recently heard on Fair Go and in the news recently that many of us have not insured our homes for the right amount.  Insurers have put the responsibility of home insurance on you, therefore running the risk that if you get it wrong, you will have serious shortfalls in what it would cost to replace your home. The great news now is that our insurers have introduced a product called SumExtra for Home Insurance.  We’re extremely pleased to advise that with effect 11th February 2015, this benefit will also apply to all of our clients [...]

2015-04-14T23:46:28+12:0014/04/2015|Categories: Blog, Mortgage Finance, New Finance, Refinance|Tags: , |
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