In recent years the insurance industry has responded to our changing needs. When once there was simply life insurance of fire and general insurance (F&G), now you can protect your other less tangible assets as well!
Now consider the asset that is even more valuable … your health, your capacity to earn, your capacity to live independently… What is that worth – and what would you do if it was damaged due to illness or accident?
If you fell ill and were unable to continue to work would a lump sum make a difference.
Losing your home because you couldn’t afford to pay the mortgage would be distressing, especially if it was because of an illness.
Mortgage repayment insurance is designed to make sure your mortgage repayments are covered so you can focus on recovery without the added stress of potentially losing your home.
This insurance is a monthly benefit that covers the mortgage repayments if you are totally disabled due to illness or injury. The amount of cover you take should equal the amount of your mortgage repayments. Mortgage repayment Insurance should be taken in conjunction with enough life insurance to at the very least, repay the mortgage in full in the event of your death. Life cover is a lump sum payment, payable on the insured person dying or becoming terminally ill.
We’ve helped you with securing a mortgage on your terms. Now we want to ensure that for the months or years ahead that you can continue to meet those repayments especially should something happen that stops your ability to PAY! It should be emphasised the cover described above is the absolute minimum that should be considered.
This is exactly why we suggest anybody with a mortgage takes our mortgage protection insurance. It
can protect your home, your property and your asset from being taken away at the worst possible moment. So let’s catch up for coffee and wrap some extra protection around that mortgage - ring me on 856 2960.