Despite popular belief, you do not need to obtain Trauma or Critical Illness Insurance in order to get a mortgage. The only insurance required by law when obtaining a mortgage is Building Insurance.
The reason why people purchase Trauma or Critical Illness Insurance is to protect themselves and family from the financial impact of illnesses such as cancer, heart attacks, and strokes. Trauma Insurance provides a lump-sum payment, usually tax-free, that can be used to pay for a wide variety of expenses such as:
- Pay for their spouse or family member to take time off work to support and care for them at home.
- Pay for treatments that are not covered by the New Zealand health system or health insurance.
- Cover additional costs such as childcare and transportation to medical appointments.
- Reduce debts such as mortgages and credit card obligations.
- Take time off from work to relax and recover, often choosing to work fewer hours.
- Help recuperation by doing something that makes them joyful, such as going on a family vacation.
We understand that talking about insurance isn’t always pleasant, but we want you to be able to stay in your home no matter what happens. That’s where The Mortgage Advice Company can help you not only stay put but also keep your lifestyle.
In cahoots, we’ll…
- Help work out what Trauma/Critical Illness Insurance cover you need.
- Find the best Trauma/Critical Illness Insurance policy that best suits you and your circumstance.
When buying your first home…
Whatever you do, don’t take the quick and easy insurance option offered by the bank. While bank insurance may appear to be a convenient solution, when it comes down to it, most bank policies aren’t all they’re cracked up to be.
Why choose The Mortgage Advice Company?
Knowledge
We’re a wealth of knowledge on all aspects of insurance and preparedness. We’ll offer professional advice to ensure you have the right cover.
Independent
We’re completely independent of any insurance company. We work for you and our recommendations are always in your best interests.
Advocacy
We’re here to ensure that you receive fair and prompt payment, to get you back to normal. In a dispute, we’ll act as your advocate.
Ready to protect yourself and your family?