The primary purpose of Mortgage Protection assurance is to clear the outstanding balance of your mortgage in the event of your untimely death. If you have a mortgage on your family home or an investment property a Mortgage Protection Policy will provide the necessary funds for your family to ensure they have security of ownership of the home without the financial burden of a mortgage.
Mortgage Protection Policies can be structured in a number of ways:
- Joint Life First Death
- Dual Cover basis
- Joint Life Second Death
- Include Life, Serious Illness and Conversion options
How the cover is structured will dictate the cost. You can look at all options and select the best format to suit your family.
Did your Bank arrange Mortgage Protection cover for you when doing the mortgage? Check it. You can save significantly on your mortgage costs by reviewing the level of cover and term regularly. The primary rating factors are your age, the loan balance and the remaining term – reviewing them can save you.
“Combine your House, Motor & Mortgage Protection with O’Malley-Griffin to maximise discounts.”
Term Life Assurance
The primary purpose of Life Assurance cover is to provide financial security for your family in the event of your untimely death. Life cover should complement your Mortgage Protection. Life cover is for your family, Mortgage Protection cover will be taken by the Bank!
Our experienced team will review your financial and mortgage cover requirements and provide the best options to suit your needs. Contact us on 061 314025 or complete the questionnaire below to obtain a competitive quote today.