Income Protection Insurance

AI Financial Services

What Is Income Protection Insurance For?

Income protection insurance, also known as life and income protection, helps cover your monthly mortgage instalments or rent payments or other expenses if your earning capacity is seriously affected by illness, disability or redundancy, ensuring your lifestyle is protected.

What Is Mortgage Protection Insurance?

A mortgage cover policy is designed to pay to you a monthly fee to cover your mortgage repayments in case you are unable to work to continue paying.

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Income And Mortgage Protection Cover Benefits:

Buying a home is a big responsibility, and it is something we appreciate you’d likely want to safeguard. Protecting your mortgage with the correct mortgage repayment insurance can help make sure your home stays in your hands if for some reason you can’t meet your repayments.

A suitable income protection plan might cover any illness, injury or health issue that doesn’t allow you to work and keep up with your mortgage payments. The amount of money you receive depends on the income protection policy.

You have the choice of two income cover options:

Mortgage cover pays up to 110% of your monthly mortgage repayments on your residential property. This will help with any interest rate rises, as well as additional expenses such as house and contents insurance or land rates.

Income protection covers up to 40% of your gross income, which means even if you are renting, you are still covered for your rent payments if you become sick or injured and unable to work.

Does Income Protection Insurance Cover Death?

Income protection insurance is designed to help maintain you lifestyle in case any illness or injury doesn’t allow you to work to keep it through. If you are considering to protect your family in case of death, free to explore our life insurance options and other coverages.

For insurance and mortgage advice choose AI Financial Services. Our mortgage and insurance advisors take the personal approach and our financial services include: