What happens to your home if you can’t work?

What happens to your home if you can’t work?
October 8, 2014

How would you pay your mortgage if you were unable to work?

More than half of New Zealand families, 57 per cent, would experience financial hardship if the main income earner suffered a long-term illness.

It is important to consider what cover you have if you are unable to work due to illness or accident. Being able to pay your mortgage and living expenses while you can’t work will keep you and your family in your home.

Earlier this year Phil, 45, suffered a heart attack. With a mortgage and two young children to look after, his wife Briar’s part-time work was not enough to pay the mortgage and the other bills. However, Phil had income protection insurance and while he was recovering from his heart attack the cover ensured he could continue to pay the mortgage and other expenses.

NZ Advice Group specialises in protecting your income after an unexpected event. Their team  can explain how mortgage and income protection insurance works and the options that you have when applying for cover. For a free review contact them on 0800 230 235 or visit their website www.nzadvicegroup.co.nz

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