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Key policy features.


  • Insurance
  • Mortgage Protection
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Overview of our mortgage protection plan.

Full details to help you understand if MPP is right for you are in the Product Disclosure Statement and Policy Document, but here’s an overview.

If you’ve thought about how you would maintain your home loan and protect your lifestyle during tough times, find out if the mortgage protection plan from Aussie is right for you and your family.

Eligibility

You’ll automatically be accepted for cover if you’re:

  • Aged 18 to 59 years
  • An Australian or New Zealand citizen or permanent resident
  • An applicant or borrower on a loan (or loan increase) taken in the last 12 months.

Product flexibility

  • You can adjust your cover to suit your budget
  • You can align your premium payments with your pay cycle or loan repayments.

Benefits

  • Death and Terminal Illness Benefit: This pays a benefit to you or your estate, based on the loan amount rounded to the next $10,000 (min. $50,000 and max, $750,000)
  • Living Benefit: This covers 11 serious medical conditions. Equal to 30% of the Death and Terminal Illness Benefit
  • Involuntary Unemployment Benefit#: This pays a maximum of three monthly benefits at the rate of 1% of the Death Benefit per month (max. $2,500 per month).
  • Accidental Injury Benefit (optional extra)#: this pays a maximum of three monthly benefits at the rate of 1% of the Death Benefit per month (max. $2,500 per month)

Exclusions

  • Suicide/self-inflicted within 13 months (Death & Terminal Illness)
  • Self-inflicted insured events (Living Benefit)
  • Any insured condition or unemployment existing at commencement (or in first three months for four insured conditions marked^)
  • Insured events caused by certain prior conditions or adverse family medical history
  • Unemployment caused by certain events that effectively deem it 'voluntary'.

Want to find out more?

Talk to a broker

More mortgage protection insurance info.

What is a mortgage protection plan?

Frequently asked questions

How to apply for a mortgage protection plan

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The fine print

^ A three-month exclusion period applies to these conditions

# One month waiting period and terms and conditions apply.

Aussie Mortgage Protection Plan is issued by Hannover Life Re of Australasia Ltd (ABN 37 062 395 484) of Level 7, 70 Phillip Street Sydney NSW 2000 (Hannover) (Death, Terminal Illness and Living Benefit) and QBE Insurance (Australia) Limited (ABN 78 003 191 035) (AFSL 239545) of Level 5, 2 Park Street, Sydney NSW 2000 (QBE) (Involuntary Unemployment Benefit). It is distributed by Australian Life Insurance Distribution Pty Ltd ABN 31 103 157 811 AFSL 226403 (ALI) and is marketed by AHL Investments Pty Ltd ABN 27 105 265 861 (Aussie) as an Authorised Representative AR 338358 of ALI. Aussie is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. The Aussie name and logos are trademarks of Aussie. Any advice in this material has been given without taking into account your personal objectives, financial situation and needs. Please consider these matters and the information within the Product Disclosure Statement and Financial Services Guide before deciding on this product.

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Aussie is a trade mark of AHL Investments Pty Ltd. Aussie is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. © 2018 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786.