As you are aware, lenders mortgage insurance (LMI) is a one off premium that a borrower must pay if borrowing more than 80% of the value of the property offered as security. This is an insurance that protects the Bank and not you. However, mortgage protection insurance can assist you by paying your mortgage, covering medical and recouperation costs, financing your children's education and many other expenses in the unfortunate event of death, serious illness or injury.
We all need to safeguard our future interests. There's no point making an investment if you can't protect it. Personal insurance isn't about saving for disasters that you think will never happen. It's a question of protecting yourself, your family, your business and your fianncial stability against loss. It's just like any other type of insurance - only much more important.
Mortgage protection insurance will cover you for term life, permanent disablement and disability income protection.
If you would like to discuss mortgage protection insurance in detail you can:
- Call us during business hours on (03) 9700 7033.
- Make an appointment or Submit an enquiry.