Mortgage Protection Insurance

Core Cover

A new roof over your head?  Cover your home loan at the same time

A nest, a castle, a crash pad or a retreat?  A new home represents something different to everyone.  But for nearly all of us, it will become one of our most significant assets.

And for all the buzz and pleasure in buying a new home, there’s also a fair amount of stress, not least in taking on the responsibility of a mortgage – usually a long-term commitment.  Because we all know that down the track, life’s magic moments may be tempered with some not so happy, but equally major, events.

Sign up now, with flexible payment options

For convenience, your premium can be paid by cash, cheque, credit card, or in monthly instalments – whatever suits you best.

Call us now on 1300 665 705

Competitive, convenient cover backed by QBE

Founded in 1886, QBE is one of Australia's leading insurers. We are proud to partner with ME to provide ME customers access to insurance policies containing a great range of features and benefits.

Documentation

A choice of cover options

Depending on your own circumstances and dependents, you can tailor a Mortgage Protection policy to provide cover for a range of situations.

Life
In the event of your death, the current balance of your mortgage will be paid.

Trauma
You are automatically covered up to $10,000 in the event of major diagnosed diseases and conditions  occurring to you, such as chronic kidney failure, heart attack, coronary artery by-pass surgery, stroke, major organ transplant and cancer. It’s a payment to you and you may elect to increase this cover to a maximum of $50,000.

Disability
For each day you are unable to work due to illness or injury, Disability cover will pay to your Financial Institution 1/30th of your minimum monthly repayment until you are able to return to work. The maximum amount QBE will pay under this cover is $200,000.

Involuntary Unemployment
Should you involuntarily lose your job, for each day you are unemployed, Involuntary Unemployment cover will pay to your Financial Institution 1/30th of your minimum monthly repayment for up to 120 days or until you return to work, whichever occurs first. The maximum amount QBE will pay under this cover is $15,000

Summary of Benefits

Life Cover In the event of your death, pays the current balance of your mortgage. Cover available up to a maximum of $500,000
Trauma Cover Pays the amount of cover selected by you in the event of positive diagnosis of any of the listed diseases such as chronic kidney failure, heart attack, coronary artery by-pass surgery, stroke, major organ transplant and cancer. Automatic cover of $10,000.  You may elect to increase cover in multiples of $5,000 up to $50,000

Waiting period of 90 days
Disability Cover For each day you are unable to work due to illness or injury, Disability cover will pay to your Financial Institution 1/30th of your minimum monthly repayment until you are able to return to work. Maximum payable regardless of number of claims made during the period of insurance is $200,000

Waiting period of 30 days
Involuntary Unemployment Cover Should you involuntarily lose your job, for each day you are unemployed, Involuntary Unemployment cover will pay to your Financial Institution 1/30th of your minimum monthly repayment for up to 120 days or until you return to work, whichever occurs first. Maximum payable regardless of number of claims made during the period of insurance is $15,000

Waiting period of 30 days

Important Notes

Terms, conditions and acceptance criteria apply.  Cover limits and waiting periods apply as set out in the policy wording.  This material does not take into account your personal needs, objectives and financial circumstances and you should consider whether it is appropriate for you.  Please read the Product Disclosure Statement to decide if a product is right for you.

Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239545 for Disability and Involuntary Unemployment and OnePath Life Limited ABN 33 009 657 176 AFSL 238341 for Life and Trauma.