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MORTGAGE PROTECTION
Perhaps one of the most topical
subjects in today’s markets,
seeking financial insurance protection in relation to loan debt and
meeting loan instalments, is becoming a priority to homeowners.
This is not surprising, as borrowing
for house ownership for most New Zealanders is the largest major financial
step taken. Securing the roof over your head can certainly bring peace
of mind. To arrange such insurance can be a relatively inexpensive
option.
Your A I S consultant will work through
the five basic elements of cover so that you can choose what is important
to you and put a package together within your budget.
 Paying
off loan debt on the death of one of the selected lives responsible
for the mortgage commitment .
Having insured instalments paid
for you during a period of disablement when you cannot work. (Clear
definitions in place).
During such a claim premium payments are waived.
A selected lump sum benefit, paid tax-free, if
a defined trauma occurs. Most common causes of claim are heart attack,
stroke, by-pass surgery and cancer. Such a claim could be used to reduce
or service loan debt or spend on other expenses.
Again, a pre-selected
lump sum is payable tax-free if an occupational total permanent disablement
occurs to meet the insurance companies definition of such disablement.
Claim proceeds can be utilized as the claimant wishes.
Another optional benefit that can be
added to meet mortgage instalments during a period of redundancy. To
make a considered selection of the programme to suit your needs,
it is important to discuss your situation with our consultant.
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