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Protect your family home against unforseen misfortune

30 NOV 1999 • By Phillip Tarrant • 2 min read • Tax & Legal

Have you ever thought about what would happen to your mortgage if you had an accident or become seriously ill and could no longer work?

family

Not a nice thought, but one that should be considered – for all mortgage holders.

All too often families experience hardship when unplanned circumstances impact on their ability to pay their mortgage. Should the unexpected strike, maintaining mortgage repayments may mean dipping into your savings, but with less income your reserves can rapidly disappear.

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So what can you do to protect yourself and your family against the unforeseen? Mortgage protection is one shield that’s well worth considering.

Mortgage protection insurance works in a number of ways. For accident, illness or disability, it can cover the total amount or a portion of your mortgage repayments for a set period of time.

 
 

Some providers will cover to up to 30 months in repayments.

Some policies will also cover you in the event of death – where the outstanding balance of the mortgage will be paid in full. For many mortgage holders this can provide peace of mind knowing that loved ones will not be evicted should disaster strike.

So how can you arrange mortgage protection insurance?

There are a number of ways. The internet is a good source of information about the companies that provide mortgage protection insurance but it can become confusing when trying to compare different policies and services.

If you’d like to explore your options it’s well worth giving me a call. As well as providing advice on mortgages and other financial products, I’m also well placed to assist with your mortgage protection insurance. We can discuss your requirements and find a policy that best suits.

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Phillip Tarrant

Phillip Tarrant

AUTHOR

Phillip Tarrant is one of Australia’s leading property commentators, with more than a decade at the forefront of conversations shaping the nation’s property investment market.

As the long-time host of the Smart Property Investment Show and a regular commentator across property, finance and business, Phillip has interviewed thousands of investors, economists, advisers, brokers, agents and industry leaders, giving him a unique perspective on the trends, policies and market forces influencing Australian property.

Beyond property commentary in the media, Phillip is an active property investor himself, with first-hand experience building and managing a diversified property portfolio across multiple markets and cycles. His insights combines this practical investor perspective with deep exposure to the broader property and financial services ecosystem.

Phillip is also CEO and co-founder of Managed, an Australian property payments and technology platform transforming the way property managers, landlords and tenants manage rental payments and property transactions.

Through his writing, podcasts and industry engagements, Phillip focuses on cutting through market noise, challenging conventional thinking and helping investors make more informed, strategic decisions. His commentary regularly explores property markets, lending, taxation, regulation, investment strategy and the changing dynamics of Australia’s housing sector.

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