Do I need Mortgage Cover if I have Income Protection? 

This is a question we get asked a lot. Mortgage Cover generally does not get offset by ACC. This means that if you are receiving a benefit from ACC you will also be entitled to the full Mortgage Cover benefit, this is not the case with Income Preotection. However, it is not always the case that you must take one or the other. Your adviser may advise a combination of both, depending on your situation. 

What plan is right for me?

There are wait periods (how long you must wait before the first mortgage is paid) and payment periods (how long the mortgage cover will pay out for) to consider. Some plans pay the benefit directly to the mortgage lender; others pay the benefit to the policy owner. The right plan for an individual requires careful consideration of a complex set of variables. The wrong plan could spell disaster at claim time. Thankfully, your adviser is an expert on this topic, so you don’t have to be.

Want to talk to an expert? Ask an adviser.