Mortgage Repayment Relief
Mortgage Repayment Relief
Mortgage Repayment Relief (also known as Mortgage Protection Insurance) is designed to help cover your home loan repayments if you're unable to work due to serious illness, injury, or death. It provides a financial buffer to ensure your family can continue living in the home without facing the burden of missed payments or foreclosure.
This type of cover complements life insurance and income protection policies by specifically targeting your mortgage obligations, one of the largest financial commitments most Australians carry. At Angelic Insurance, we help you compare options that can pay your lender or nominated beneficiary a regular monthly amount or a lump sum, depending on the policy you select.
How It Works
You pay premiums regularly, and in the event of a covered condition, the insurer will pay your mortgage installments either fully or partially for a specified period.
Choose the level of cover
Determine how much of your mortgage you want to protect it can be the full balance or just your monthly repayments.
Apply based on your age and health
You’ll provide some details about your mortgage, income, age, and medical history. Some policies may require underwriting or declarations.
Pay regular premiums
Premiums are based on your cover amount, loan term, and personal risk factors. You can usually pay monthly or annually.
Triggering event
If you pass away, are diagnosed with a terminal illness, or are unable to work due to a covered event (like serious illness or injury), you or your family can lodge a claim.
Benefit payout
The insurer will either make regular mortgage repayments for a defined period or pay out a lump sum to clear part or all of your mortgage, depending on your cover type.
Why You Need It?
This policy helps you protect your most significant asset—your home—by ensuring that mortgage payments are covered during tough times when you are unable to work or earn income.
Protects Your Family Home
Your mortgage is one of your biggest financial obligations. This cover helps ensure your loved ones can stay in the home even if you can’t work or pass away.
Reduces Financial Stress During Hardship
If you're recovering from illness or injury, this cover helps avoid the added pressure of worrying about repayments.
Complements Life and Income Protection Insurance
It provides focused cover for one of your largest fixed expenses which may not be fully addressed by other types of insurance.
Supports Debt-Free Recovery or Transition
In the event of death or permanent disability, your family won’t be left with a large debt burden tied to the property.
Ideal for Sole Borrowers or Dual-Income Households
If your household depends on both incomes, even a temporary loss of one can strain repayment ability. This cover helps bridge the gap.
How Angelic Insurance Can Help?
Angelic Insurance offers mortgage repayment relief policies tailored to your mortgage structure and financial situation. Our experts help you select the right policy to protect your home and family from the risk of losing your property.
Compare Mortgage Cover Policies
We compare a range of products that focus specifically on home loan protection, helping you find the most cost-effective and comprehensive option.
General Advice Tailored to Homeowners
Our brokers provide clear, factual information to help you understand how this cover works with your existing life or income insurance.
Understand Your Loan Obligations
We help you assess how much cover you may need based on your loan amount, repayment schedule, and family needs.
Support With Claims and Reviews
If you need to make a claim, Angelic Insurance will support you through the process. We also review your policy over time to keep it aligned with your mortgage balance.
Seamless Integration
We can help structure your cover in a way that works with existing insurances, ensuring there’s no overlap or gaps in protection.
Frequently Asked Questions
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