REAL Mortgage, Income and Rent Cover
Ideal for people who are:
- Paying off a mortgage
- Wanting to protect their income
- 115% of mortgage repayments; or
- 115% of residential rental payments; or
- 45% of income.
- Optional Specific Injury Benefit – if you suffer from one of our listed specific injuries such as a fractured collarbone or loss of sight, we will pay you a benefit whether you are working or not.
- No Offsets on the first $5,000 of a Monthly Benefit – your monthly benefit will not be reduced by any other income replacement sources such as ACC, up to $5000 per month.
Agreed Monthly Benefit
You will receive an agreed monthly benefit, paid in advance, based on your preferred cover option. If your circumstances change, your benefit remains the same provided your premiums are paid.
Special Events Increase Options apply without providing further medical evidence.
The major driver of the cost of income protection is the likelihood of a claim and its expected duration. Statistics show New Zealanders are 2.6 times more likely to lose income from being off work for six months or more as a result of sickness than of losing the same amount of work time as a result of an accident. The period you have off work after sickness is typically much longer than for an accident