Get In Touch
This benefit replaces a portion of your income or helps you meet your mortgage orrental payments if you are unable to work due to illness or injury.
With Mortgage, Income or Rent Cover, there are two ways your monthly benefit amountcan be calculated – simply choose the one that’s right for your situation.
- Up to 115% of your contractual mortgage repayments or rental obligations on your residential property; or
- 45% of your gross income
The monthly benefit payment is reduced by any other mortgage or income protection benefits that you receive
ACC Benefit
Ifyou receive an ACC payment and have taken out Income Protection, the amount you receive from ACC will be deducted from your payment amount (known as ACCoffsets).
If you have Mortgage, Income or Rent Cover, the amount you are receiving orentitled to receive from ACC or Work and Income New Zealand (WINZ) will beoffset from benefit payment amounts above $7,500 per month, calculated acrossall mortgage repayment type products.
Redundancy Cover
This is an optional benefit you can add to your Mortgage, Income and Rent Cover. If you are made redundant, you can be covered for up to 6 months to meet mortgage or rent commitments
Your home is your sanctuary, and your income is what keeps it running.
Mortgage, Rent & Income Protection is a specialised suite of benefits designed to ensure that if you’re unable to work due to illness or injury, your most significant expenses—your housing costs—are taken care of.
It provides a monthly payment to cover your mortgage or rent, plus extra to help with the bills, so a health setback doesn't lead to a housing crisis.
Key Features & Benefits
- Protect your home: Payments are made directly to you to cover your mortgage repayments or monthly rent, ensuring you and your family stay securely housed
- Offset-Free Payments: Unlike standard Income Protection, some Mortgage/Rent benefits are "indemnity-free," meaning the payout won't be reduced if you receive other government social security or ACC payments
- Tailored Waiting Periods: You can choose how soon the payments start (e.g., 30 or 90 days) based on how much emergency savings you have on hand
- Full Disability & Partial Disability: Whether you are completely unable to work or can only manage a few hours a week, the benefit can "top up" your earnings to meet your housing obligations
How it Differs from Standard Income Protection
While standard Income Protection replaces a percentage of your salary, Mortgage and Rent Cover is specifically calculated to match your actual housing costs
Why is This Essential
The Stability Factor: Most people can cut back on dining out or streaming services during a crisis but rent and mortgages are non-negotiable. This benefit ensures that even if you can't go to work, you never have to worry about losing the “roof” over your head.
More Personal Insurance Options
