Mortgage Protection

The Need For Mortgage Protection

When you’re fit and well, protecting your mortgage is probably not something you consider a priority, after all becoming seriously ill is something that happens to ‘someone else’. However, having a mortgage will expose you and your family to risk with potentially serious consequences so it’s absolutely essential for you to determine how best to protect your mortgage.

Consider these alarming facts:

  • 3 out of 4 Australians will be diagnosed with a serious illness in their working life.
  • 1 in 5 working age parents will die or become seriously ill or injured.
  • 1/3 of women and a 1/4 of men will suffer from cancer during their lifetime.

You must consider the effects on your partner or family and your ability to repay your mortgage if you or your partner dies or suffers a serious medical condition.

You should think about:

How would your mortgage be repaid in the event of your death or if you suffer a serious illness or injury?

What protection you currently have?

If you don't have adequate protection, are you willing to accept the consequences?

You have an obligation to consider these questions and decide how best to protect your mortgage. Mortgage protection can provide peace of mind by helping protect you, your partner, your family and your home if you die prematurely or get seriously ill. It helps to provide dignity, control and choice in stressful times.

 Here are some case studies on the benefits or mortgage protection

 Linda's Story

 Cheryl's Story

Jenne and Bruce's Story

 Jo's Story

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David Carruthers is a credit representative (Credit Representative Number [400226]) of BLSSA Pty Ltd (Australian Credit Licence No. 391237).