Mortgage Protection Insurance

You wouldn't buy a car without car insurance, your mortgage is no different!

If your income stopped tomorrow, would you still be able to meet your mortgage repayments?

Mortgage Protection provides a simplified insurance product that can be purchased if you have a mortgage. When you take out a mortgage for your home or investment property you're need for protection increases. Mortgage protection insurance will cover mortgages on residential and commercial properties both owner occupied and investment properties.

Mortgage protection will cover you for any mortgage(s) outstanding should you die or become totally and permanently disabled. For every property lost due to fire, there are 4 lost to due death, and 48 are lost due to disability. In addition mortgage protection insurance provides a monthly income benefit to you in the event of total or partial disablement caused through injury or sickness. This income benefit will help you cover regular mortgage repayments.

Red Rock Mortgages has relationships with a range of Mortgage Protection Insurance providers and can provide you with a fast complimentary quote to suit your needs. For more information or to receive a complimentary quote for a new or existing mortgage - please Contact Us

Case Study 1

Mark and I have a little boy aged 4 and had recently built our new home. While Mark was fit and healthy he decided it was important to get mortgage protection in place so he took out $300k in cover. Two weeks later Mark was up a ladder installing a railing on the balcony at home. It was a very windy day and he accidently fell. He was in a coma for two weeks and then tragically passed away. The claim payment enabled me to pay off our mortgage. I would never have been able to meet the mortgage repayments on my own and would have been forced to sell our home. Having protection in place has made an enormous difference to our lives and has given my son and I financial freedom. - Anne F

Case Study 2

Last year I resigned from my job to start my own business as a fitness trainer for older adults. I refinanced my loan through my broker and decided I should take the mortgage protection he offered me. I was a picture of fitness and health but after a routine check discovered I had a lump in my breast. I had an ultrasound and a biopsy and I was told that I had a tumour. I then had a mastectomy and will shortly have plastic surgery reconstruction.

Now I am unable to work for a whole year. I really don't know how I would have managed without the mortgage protection and I feel blessed. The money I received has meant I did not have to sell my beautiful little house and is helping me cope financially, especially with the heavy medical expenses involved. - Cheryl T