97% of claims accepted and $112m paid to customers from
1/7/23 - 31/6/24
What is Mortgage and Living Insurance?
With Mortgage and Living Cover you’ll receive regular payments if you’re unable to work due to sickness or injury to help cover everyday expenses, like mortgage payments.
There are many ways to structure your cover and premiums, allowing you to tailor cover to your needs, lifestyle and importantly, budget! It’s flexible too, so you can adapt it as your financial circumstances change.
Offering agreed level of cover, gives you certainty about how much you could receive if you need to claim – there’s also a more cost effective option that offsets any other payments you might receive such as ACC.
Mortgage and Living cover is packed with features and you can boost the cover further with optional benefits.
Who is it for?
We understand that at different stages of life, people need different types of cover. Watch the below videos to see two examples of how Mortgage and Living Cover could work for you.
Mortgage and Living benefits
Income support
Pay you a regular benefit if you’re unable to work because of illness or injury
Rehabilitation & retraining support
Helps you with your rehabilitation and retraining costs
Recurrent disability
Pays you a regular benefit if you suffer the same sickness or disability within a year
Family assist
We’ll pay for a nurse or family member to look after you at home for up to 6 months
Dependent relative
We’ll pay you a monthly benefit for up to 6 months if you have to stop work to undertake full time care of a family member.
Return to work
Pays you a bonus benefit if you are able to return to work
Income or mortgage update
Increase your cover up to 10% each year without any medical underwriting, if your income or mortgage payments increase
Transition from Stepped to Level premiums
Ability to change how your premiums are structured
Optional benefits you can choose to include:
Provides a discount if you choose to limit your benefit payment to two years for any claims related to mental illness
Receive this benefit if you suffer any of 29 specified injuries (ranging from broken bones to paralysis). The benefit is payable even if you are still able to continue working. Check the policy document for the full list of injuries and payment periods. Depending on the option you have selected the payment(s) will be either your monthly benefit for the payment period or a multiple of your Specific injury support benefit – lump sum sum insured.
Boosts your monthly benefit in the early stages of a claim
Pays you a benefit while you’re waiting for your claim payments to start, if you’re confined to bed or diagnosed with a specified condition.
Work up to ten hours in your usual occupation without it affecting the benefit you receive.
Lets you cover your kids too.
Ready to speak to an adviser?
If you would like to know more about Life Insurance we can put you in touch with an adviser who can explain the different options available.
Speak to an Adviser
Disclaimer: The information provided above is for general information only, it is not financial advice or personalised to your situation. If you would like advice that takes account of your particular situation, please contact your financial adviser. Full details of policy terms and conditions are available from Asteron Life Limited or your financial adviser. Terms, conditions, exclusions and limits apply. If there are differences between the information provided here and the policy document, then the policy document will prevail. Asteron Life Limited and its related companies do not accept any liability in connection with the information provided.