Protecting your ability to continue to make mortgage repayments becomes pressing with a family. There is assistance available for unfortunate events through ACC. Many issues can arise where these is confusion between illness and injuries and ACC can fall short.
To have complete peace of mind, “mortgage repayment cover” can be a strong option. Once full cover is in place, it does not distinguish between illness and accidents. Also add ons such as redundancy cover can be available.
Costs for this type of cover can be controlled through planning the waiting period and payment term.
For clients that keep back up savings and are able to sustain expenses for weeks without income, a longer waiting term can bring down premiums. Also for clients that feel they only need the mortgage to be paid for a period of a few years while ill, the premiums can be more economical.
