protecting your mortgage instalment

As we all know, the mortgage instalment is the largest and most important monthly bill we have to pay. It has to be paid and on top of that there are the usual bills and costs associated with property ownership. On taking out the mortgage you are assessed on your ability to service the principle and interest. So what are your problems if you are disabled due to ill health, bankruptcy or made redundant? Do you have enough money in reserve to meet this monthly commitment and if so for how long?

Mortgage loan instalment insurance pays the owner an ongoing monthly payment that will take care of the loan instalment and will continue for as long as you are disabled. It is an agreed value contract, the amount equal to the mortgage instalment. There are no offsets including ACC Your investment property mortgage can be protected in same way.

Statistics prove that the majority of home owners insure themselves against damage by Fire but what are the odds?

    1 in 200 (NZ Fire Services Commission)

That you will be in a motor accident causing injury or death

    1 in 100 (Land Transport Safety Authority)

That you will die before the age of 65

    1 in 5 (Statistics NZ)

That you will suffer a major illness before the age of 65

    2 in 5 (Cologne Re-assurers)

That you will be unable to work for six months or more due to a disablement

    1 in 3 (BERL Disablement Research)

Contact us

Please contact Michael or Gwyn Gray to discuss your insurance concerns. We promise you the best possible advice.