Evergreen Life - Mortgage Protection
Mortgage protection is a combination of many insurance products, like Life Insurance, Trauma Cover, Total and Permanent Disability Cover, and Income Protection.
You can also get standalone mortgage repayment cover, which pays your regular mortgage payments if you're unable to work because of sickness or injury. There's an initial stand down period of at least 4 weeks before the payments start.
Mortgage protection is very similar to other standard insurance policies, but because it's specifically to cover a fixed amount (the amount of your mortgage), there's less flexibility.
The price for mortgage protection insurance is usually similar to standard insurance policies. It's best to talk through your options with us to find what's best for you.
How much cover do I need?
Mortgage protection cover reflects the amount of your mortgage debt, or the monthly repayments you need to make. In short, it depends. No two situations are the same.