After sick leave and annual leave have run out it would only take one month for 55% of Kiwi households to be unable to pay their expenses. Are you one of these households ? Mortgage Protection Insurance will pay your mortgage payments if you cannot work due to Sickness or Injury (or redundancy optional). For most people if you are too sick to work your employer will stop paying you when you run out of sick pay, and no-one will pay you if you are self employed and are not working. If you are sick and not working it is it likely that you will not be able to make the monthly mortgage payment. Your bank will only be your friend for a little while before they start to make formal demands on you to catch up on any missed payments. If you cannot catch up on missed mortgage payments the bank will then proceed to sell your house, this is known as a “Mortgagee Sale” DO NOT BE FOOLED, the banks do actually do this even when people are sick. This is not something you would want to face when you are unwell. |
If you can't pay your mortgage you are likely to get a bad credit rating, this will affect your ability to borrow money or get another mortgage in the future. Mortgage Payment Insurance will pay your mortgage even if you are receiving A.C.C. (ACC only pay 80% of your income less tax). |
The Facts:
- 1. One in eight males and one in twelve females over the age of 30 will die before they reach age 65.
- 2. Over the past five years, one in seven households has experienced a serious illness resulting in an inability to work for three months or more.
We understand one of the biggest
worries if you lose your income is how to pay the mortgage or rent.
So let us help you keep a roof over your head.
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