Asteron Life: Mortgage and Living Insurance

Asteron Life's Mortgage and Living Insurance pays a monthly benefit if the insured is unable to work in their usual occupation due to illness or injury, designed to cover mortgage or rent repayments and keep the insured in their home during recovery, with an optional benefit period to age 65.

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A- (Strong)

Financial strength

International

Resolution Life (Apollo)

98%

Claims paid

Mortgage and Rent Cover pays you an agreed amount of money each month if you can’t work in your usual job due to illness or injury.

It is designed to cover your mortgage or rent payments. You can also choose to cover yourself against redundancy/bankruptcy.

What is Mortgage and Rent Cover? Mortgage and Rent Cover pays you a regular monthly payment if you’re unable to work because you’re sick or injured. This is designed to ensure you can go on living in your home while you’re not receiving your salary or wages. We will pay you until you can return to work, or until you reach the end of your chosen benefit period on your policy. This can be up to the age of 65 depending on what option you choose.

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Common questions about Asteron Life mortgage and living insurance

Will my premiums go up each year?

It depends on what policy you select. Traditional stepped premiums do increase each year on your policy anniversary. Level premiums do not increase with your age for a specified period of time.

Am I locked into the cover for a certain period?

No. If you cancel your policy in the first 14 days your premiums will be refunded. After the 14 day free look period you are able to cancel your cover at any time.

How can I pay my premiums?

You can choose your method of payment you prefer e.g., Credit card, monthly Direct Debit or Cheque.

Do I have to pay on fortnightly basis?

No. You can choose your payment frequency i.e. weekly, fortnightly, monthly or on an annual basis.

Are medical tests required?

In most cases no medical tests are required. Each application is considered on an individual basis. If you are required to undergo any medical test they will be paid for by the insurance provider and at no cost to you.

Can I apply directly with the insurance providers for cheaper cost?

No. Most insurance providers prefer to work through intermediaries like us rather than dealing directly. We don’t mark up policies. In fact, we guarantee your premium is the same as going direct.

Other Asteron Life products

Life Insurance

Asteron Life's life insurance pays a lump sum on death or terminal illness diagnosis, helping the insured's family pay off the mortgage, fund ongoing living expenses, and provide financial security for dependants, backed by a 99.90% life claim acceptance rate in FY25.

Life Insurance details →

Trauma Cover

Asteron Life's Trauma Recovery Cover pays a lump sum if the insured is diagnosed with a covered serious condition, including cancer, heart attack, and stroke, providing financial support for private treatment, debt repayment, and recovery expenses.

Trauma Cover details →

Income Protection

Asteron Life's Loss of Earnings income protection provides regular monthly payments if the insured cannot work due to illness or injury, with benefits payable until return to work or up to age 70, and a 95.61% claim acceptance rate in FY25.

Income Protection details →

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