Loan and mortgage

Loan and mortgage

Hanging on to your most valuable assets

What would you do if redundancy, illness or injury made it impossible to meet loan repayments? What would happen if you died? In the worst case scenario, you or your family might have to sell something – like the house - to meet loan commitments.

If you have a mortgage, personal loan or credit card, it’s easy to protect your ability to repay.

There are many types of insurance that can help. Some pay a lump sum or a monthly amount that you can use for any purpose; others are strictly to cover loan repayments.

Mortgage and Income Protection
Protecting your home is important, Mortgage and Income Protection is designed to help you meet your mortgage repayments or rent in the event of illness or injury. You also have the option to add cover for redundancy.

FlexiLife
FlexiLife will protect your home and your lifestyle in the event of an injury, illness, redundancy or at worst death. You also have the option of ensuring that loan repayments will be met.

MyLife
MyLife is life cover that you get online. It’s quick and easy to arrange, with no medical required. You could have cover in as little as 20 minutes.

Income Protection
Income Protection insurance looks after your lifestyle by protecting your ability to earn. It's particularly important if you have financial liabilities, such as a mortgage or a personal loan.

Term Life
This type of life cover could provide a lump sum in the event of death. It’s a way to take care of financial commitments and people who depend on you.

Living Assurance
Living Assurance is designed to pay a lump sum if you suffer one of the critical conditions covered by your policy.

Total Permanent Disablement
This type of insurance could provide a lump sum if you are totally and permanently disabled, and unable to work again as a result of a serious illness or injury.

Personal Loan Insurance
This insurance cover could help with your loan repayments if you are made redundant, if you become temporarily or permanently totally disabled, or if you die.

Monthly Critical Illness
This type of cover could provide you with a monthly income if you are disabled as a primary result of suffering one of the critical conditions covered by the policy.

Credit Card Repayment Insurance
This insurance cover could help with your credit card repayments if you are made redundant or declared bankrupt, if you become disabled and can’t work, or if you die.

Accidental Death
Accidental Death pays a lump sum if you die as the result of an accident. Because it only covers accidental death, it costs less than regular life cover.
Click here for further information on ASB Life, Health and Disability Insurance underwritten by Sovereign Assurance Company Limited.