Mortgage Protection
For many families, a mortgage is one of their largest financial commitments.
Advice, made personal
Protect the home you've worked hard for.
For many families, a mortgage is one of their largest financial commitments.
If an illness or injury affects your ability to work, keeping up with mortgage repayments can become a significant source of financial pressure. Mortgage protection is designed to provide financial support if you’re unable to work due to a covered illness or injury, helping you continue meeting your mortgage commitments.
At Aegis, we help you understand how mortgage protection works, how much cover may be appropriate and which options may suit your circumstances.
How Aegis can help
Understanding the different types of mortgage protection can be confusing, particularly when policies can differ in their definitions, waiting periods, benefit periods and claim conditions.
We’ll take the time to understand your mortgage and wider financial circumstances before recommending suitable options.
We’ll explain the options in straightforward language, help you compare suitable policies and highlight the key differences between them, including benefit amounts, waiting periods, benefit periods, exclusions and premiums.
We’ll then guide you through the application and underwriting process and remain available to help as your circumstances change.
What’s Included
- Assessment of your Mortgage Protection needs
- Advice on appropriate cover amounts and policy structure
- Comparison of suitable insurance providers
- Guidance on benefit periods, wait periods and policy features
- Ongoing service and reviews of your cover as circumstances change
How it works
Mortgage Protection
Common Questions
Your home is likely to be one of your biggest assets, while your mortgage may be one of your biggest financial commitments.
If you're unable to work for an extended period, the combination of reduced income and ongoing mortgage repayments can put significant pressure on you and your family.
Mortgage protection can provide a regular benefit that can be used towards your mortgage repayments when you're unable to work due to a covered illness or injury.
This can help you:
- Continue making your mortgage repayments
- Protect the home you've worked hard to purchase
- Reduce financial pressure while you're recovering
- Maintain greater financial stability for your family
- Avoid relying entirely on savings to meet your repayments
- Focus on your recovery without the immediate pressure of your mortgage
Mortgage protection can work alongside other types of personal insurance, such as income protection, trauma and life insurance, with each type of cover designed to address different financial risks.
The amount of mortgage protection you need will depend on your mortgage, income and personal circumstances.
We'll consider factors such as your outstanding mortgage balance, repayment amount, income, savings and other financial commitments.
We'll also look at how long you could comfortably continue making your mortgage repayments if you were unable to work.
Depending on your circumstances, you may choose to insure your mortgage repayments specifically or consider broader income protection that provides a benefit towards your overall living expenses.
We'll help you understand the differences between these options and determine what may be appropriate for you.