Start with the questions that matter
How long could we cover repayments from savings?
What waiting period fits our emergency buffer?
Would income protection be a better match?
Build cover around the household budget
We review the mortgage repayment, income sources, sick leave, savings, ACC position and any existing income cover. This helps assess the benefit amount and how long the household could manage before payments begin.
The policy may offer different waiting periods and benefit periods. A longer waiting period may reduce the premium but requires a larger financial buffer. A shorter benefit period costs less but may leave a gap during a prolonged claim.
Key choices
- Monthly benefit amount and maximum allowed
- Waiting period before benefits become payable
- Benefit period for which an eligible claim may be paid
- Agreed-value or indemnity-style features where available
- Offsets for ACC or other income under the selected policy
- Premium structure and optional benefits
- How cover applies to employed or self-employed income
Know what the benefit is designed to do
The benefit can help preserve household cash flow and reduce pressure on the mortgage, but it may not cover all expenses or all causes of time away from work. Redundancy cover, where available, is usually separate, limited and subject to specific conditions.
Income protection may provide broader income-based cover for some clients. We compare the relevant options rather than assuming mortgage repayment cover is always the best fit.
Cover tested against your real buffer.
We test the cover against your actual mortgage, savings, sick leave, ACC position and household buffer. We also compare income protection where it may provide a better match.
Benefit eligibility, offsets, waiting periods, exclusions and maximum payments vary by policy. Cover is subject to underwriting and policy terms.
