Protecting our communities

Mortgage and income insurance may just seem like another “sell” to our clients, but in today’s environment of responsible lending, there’s value in understanding the insurance products out there.

Life is full of surprises - both good and bad. When things take an unexpected turn for the worse, families can be faced with serious financial challenges, and in some cases are at risk of being unable to meet their mortgage repayments.

Knowing what protection is out there and educating clients is a simple, valuable and obligation free service that can be offered.

Loan protection

Taking out a loan - particularly a mortgage - is a huge decision. When someone puts themselves in debt, there’s always a risk that something can go wrong. Loan protection can counter that risk by covering a person’s debt against life’s unexpected tragedies.

There are various insurance options that can protect loan repayments when Australians are faced with unemployment, critically injured or diagnosed with a serious or terminal illness.

Income protection

When a person is unable to work for an extended period of time, it can have a massive impact on their financial situation. Income protection ensures Australians can make ends meet in the event they have to take time off work. Many income protection products can include redundancy cover and offer the added option of covering mortgage repayments.

Life insurance

Life insurance protects families in the event the main income earner dies or is diagnosed with a terminal illness. When paid out, this type of cover usually results in a lump sum payment to the family.

As with all things, different options suit different people. Each insurance type comes with varying levels of cover and affordability.

At the end of the day, it’s the client’s decision whether to take out protection insurance. Having the knowledge of what products are out there, how they differ and who they may suit is all that’s required to make sure our communities are armed with the information to make a decision that’s right for them.