Mortgage Protection Insurance

For most New Zealanders, the mortgage is their largest financial commitment. Mortgage protection insurance ensures that if you are unable to work due to illness or injury, your repayments are covered — protecting your family's most important asset.

Policies can cover your full repayment amount or a portion of it, with waiting periods typically ranging from 2 to 13 weeks. Some policies also include a redundancy benefit.

Mortgage protection is often confused with mortgage repayment insurance offered by banks — but standalone policies from specialist life insurers generally offer broader definitions of disability and more flexibility. A CompareNow adviser can compare the options and help you find the right fit.