Mortgage Repayment Cover NZ
Your home is your most valuable asset. Mortgage repayment cover ensures you'll never lose it to unexpected circumstances. If you lose your job, become ill, or pass away, your mortgage payments are protected up to $500,000.
For most Kiwi families, a mortgage represents decades of financial commitment. Mortgage repayment cover gives you absolute peace of mind that your home is protected against redundancy, illness, accident, and death. From just $15 per week, you ensure your family keeps the roof over their heads no matter what life throws at you.
Why Choose Mortgage Repayment Cover?
- Covers up to $500,000 - protection for mortgages of any size across New Zealand
- 12-month income replacement for redundancy - full mortgage payments covered while finding work
- Death cover for entire loan - if you pass away, mortgage is paid in full and your family keeps the home
- From just $15 per week - comprehensive home protection at affordable cost
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What's Covered Under Mortgage Repayment Cover
Redundancy & Job Loss
If you're made redundant, your mortgage payments are covered for up to 12 months. Gives you time to find new employment without losing your home.
Illness & Disability
Unable to work due to serious illness or accident? Mortgage payments are covered while you recover. Your home is secure during medical hardship.
Death Cover
If you pass away, your entire mortgage is paid in full. Your family keeps the home, mortgage-free. No inherited debt, complete security.
Terminal Illness
If diagnosed with terminal illness (less than 12 months to live), your mortgage is paid immediately. Full protection for your family.
Key Benefits of Mortgage Repayment Cover
Keeps Your Home in Your Family
Your greatest asset stays yours. If something happens, your family doesn't have to sell the home to pay the bank. They keep the house.
Works with All Mortgage Types
Fixed rate, floating, or revolving mortgages all covered. Whether through ANZ, Westpac, BNZ, Kiwibank or private lenders, we protect your home loan.
Covers High Mortgages
Protection scales from $50,000 mortgages to $500,000+. Whatever your loan amount, we can structure cover that matches your home's value.
Direct Payment to Lender
Payments go straight to your bank or mortgage lender. Your mortgage stays current, protecting your credit history and avoiding late fees.
No Medical Exam for Most Policies
Simple online application. We assess your income and employment, not your medical history. Approval usually within 24 hours.
Affordable from $15 per Week
Complete home protection starts from just $15 weekly depending on your mortgage amount and age. No hidden fees or broker commissions.
How Mortgage Repayment Cover Works
Tell Us About Your Mortgage
Provide your current mortgage balance, monthly payment, and lender details. Get an instant quote for comprehensive home loan protection.
Apply Online & Get Approved
Fast online application with no medical exam. Approval usually within 24 hours. Start protecting your home immediately after acceptance.
Coverage Becomes Active
Your mortgage repayment cover activates with a 14-day waiting period. Premium payments begin immediately. Your home is now protected.
If You Need to Claim, We Pay Your Lender
Redundancy or illness occurs? Submit proof to our NZ claims team. We verify and pay your mortgage lender directly, keeping your home secure while you recover.
Why Homeowners Need Mortgage Repayment Cover
Your home likely represents 25-30 years of financial commitment and is probably your largest asset. The consequences of not being able to pay your mortgage are devastating:
Forced Sale:Banks will force-sell your home if payments aren't made, often at less than market value, leaving you with nothing.
Family Displacement: Your children lose their home, schools are disrupted, and family stability collapses during an already difficult time.
Credit Damage: Mortgage default creates credit damage lasting 7+ years, making future borrowing difficult and expensive.
Cascade of Problems: Missing mortgage payments creates a domino effect—missed rent obligations, unpaid debts, potential legal action.
For less than $20 per week, mortgage repayment cover eliminates this risk entirely. Your home stays yours regardless of what happens to your income.
What's Not Covered
Mortgage repayment cover has specific exclusions to maintain affordability and ensure genuine claims. Here's what typically isn't covered:
- •Mortgages in someone else's name or fraudulent borrowing
- •Voluntary job resignation (redundancy cover only)
- •Pre-existing medical conditions with exclusion periods
- •Claims within 14-30 days of policy start (waiting period)
- •Job loss due to gross misconduct or poor performance
- •Self-employed or contract workers without special underwriting
Full policy terms and exclusions available upon request. We recommend reviewing these carefully to understand coverage details and maximum monthly benefits under your specific mortgage agreement.
Frequently Asked Questions
Can I cover a mortgage that's not yet settled?▶
Yes. You can apply for mortgage repayment cover for a home you're about to purchase. Get the policy in place before settlement for immediate protection from day one of homeownership.
What if I have a rental property mortgage?▶
Standard policies cover owner-occupied homes only. If you have a mortgage on an investment property, contact us for special underwriting and available options for rental income protection.
Can I cover a fixed-rate mortgage?▶
Yes. All mortgage types are covered—fixed rate, floating rate, and revolving mortgages. Your protection applies regardless of rate structure or lender.
What if I refinance my mortgage?▶
Let us know when you refinance. Your policy can be updated to reflect your new loan amount and lender. Coverage continues without any gap.
Can my spouse be covered too?▶
Yes. Joint mortgage holders can both be covered on a single policy. If either loses employment or becomes ill, the mortgage is protected. Just one premium covers both.
How much does mortgage repayment cover cost?▶
Premiums start from $15 per week depending on your mortgage amount and age. Personalised quotes available online in 2 minutes. Monthly costs are completely transparent with no hidden fees.
Can I cancel anytime?▶
Absolutely. Month-to-month coverage with no long-term contracts or lock-in periods. Cancel anytime with no exit fees or penalties. Just give notice and you're done.
Who Should Get Mortgage Repayment Cover?
First-Time Homebuyers
If you've just purchased your first home, mortgage repayment cover is essential protection. Stretches of tight budgets make insurance even more critical.
Sole Earner Families
If you're the only income earner supporting a family and mortgage, mortgage cover is critical. Protects your family's home and financial security.
Contract & Seasonal Workers
If your employment is irregular, contract-based, or seasonal, mortgage cover bridges gaps between jobs and protects your home during uncertain income periods.
Recently Employed
If you're in a new job, particularly one still in probation, mortgage protection safeguards your home during the period before job security stabilises.
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Protect Your Home Today
Get a free quote in just 2 minutes. From $15 per week you can protect your mortgage against redundancy, illness, and death. No medical exam, approval in 24 hours.
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