Problems with interest rates and repayments? Ask for home loan help.
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Mortgage Insurance can be an add on to your home loan product that protects your repayments in the event of death, total permanent or temporary disability. This is usually sold by the lender and gives the borrower some protection; however the amount of cover is limited only to either the repayments or the total debt. This means if say the husband died the loan may be paid out but then Mum has nothing else to provide for the ongoing needs of the family.
Mortgage protection can also be a comprehensive insurance policy that provides for the family, including the mortgage in the event of death, total permanent or temporary disability.
Call Your Local Finance mortgage broker on  who will arrange an introduction to a properly qualified insurance specialist.
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