A house is the largest investment the average Australian makes, which also means that it is one of our greatest sources of debt. For most people, paying off a mortgage is a multi-decade process that requires a significant long term financial commitment. Mortgage Repayment Relief Cover can provide a monthly benefit for up to 90 days to help you cover your monthly home loan repayments if you become Involuntarily Unemployed for more than 60 consecutive days. Mortgage Repayment Relief can be added as a rider benefit in conjunction with your Life cover or TPD cover.
Involuntary Unemployment is where you are no longer employed through no fault of your own and due to factors outside your control. This does not include an unsuccessful probation period, dismissal due to unsatisfactory performance or unacceptable behaviour, or voluntary redundancy.