There are 4 key areas where as a borrower you can protect you & your family in the event of an illness, injury or death.

When you borrow, your financial circumstances have changed and it is therefore of paramount importance to ensure your new debt is covered. The last thing you would want to do is have to sell your property because due to a change of circumstances you could no longer afford your repayments.

The 4 key areas that you should consider are:

In simple terms this pays a lump sum in the event of death. This can be organised to pay out your mortgage in full if and when required, not leaving the headache behind for your loved ones.

As the name suggests, should you suffer a permanent & total disablement a lump sum can be paid in order to distinguish your debt and/ or assist in covering additional expenses or a change of lifestyle.

This cover pays a lump sum upon the diagnosis of a specific life threatening condition such as heart attack, cancer or stroke. There are usually about 33 conditions covered however this depends from company to company.

Income Protection covers a portion of your income in the event of a sickness or accident, whether this condition is permanent or temporary. This will assist in covering mortgage payments and living expenses. Premiums here are tax deductible.

Note: This information is to be used as a guide only. You should consider not only your own personal circumstances but the Product Disclosure Statement of various companies. We recommend you speak to our Authorised Representative Dave Caffarelli regarding this matter.

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