Insurance

Insurance: Over the previous 50 years the insurance market has evolved at an astronomical rate. People are now able to insure themselves against a myriad of risks from the more mundane such as home insurance to the more extravagant insurance policies for the rich and famous such as kidnap insurance.

Payment Protection Insurance

We all seek peace of mind and aspire to stablise / better ones financial situation, but how many people plan for the unforeseen? We all insure our homes, cars, and even our pets, but few think about insuring their income or debt repayments. Should someone be made unemployed or be rendered unable to work, how will the bills and current costs of life be safeguarded?

Mortgage Insurance

Mortgage Insurance is also referred to as MPI (Mortgage Payment Insurance) or MPPI (Mortgage Payment Protection Insurance). There are a wide variety of solutions in the current insurance market, so we would urge all insurance seekers to research each of the offerings in great detail. Mortgage payment protection insurance will in essence cover the mortgage payments in the event of unemployment, illness or death.

Mortgage disability insurance

Mortgage Disability Insurance is very similar to standard mortgage insurance and focuses on the risk of illness and subsequent inability to work and earn an income. Many mortgage disability insurance providers also insure against unemployment.

Income Protection Insurance

Income Protection Insurance will safeguard the applicants monthly income should they become rendered unable to work or unemployed. Beware that many policies won't kick in for 60 - 120 days from the policies inception, equally the payment window from the date of the claim can be up to three months, therefore we would urge all applicants read the small print. Typically the more expensive the policy the stronger the cover and quicker the claim time.

Loan Insurance

Loan Insurance protects the capital debt and associated repayments should the policy holder be rendered unable to work or unemployed. Always read the small print and make sure that the loan insurance deal suites your needs, for example: how long is until the loan insurance company starts making the loan repayments on your behalf.

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