Mortgage Protection Plus
A new roof over your head? Cover your home loan at the same time
Competitive, convenient cover, backed by QBE
A choice of cover options
|Life Cover||In the event of your death, pays the current insured contract amount stated in the Policy Schedule.||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 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, from Commencement Date of the Policy.
|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 as shown on the loan contract when it was first entered into or the date your disability first occurred, whichever is the lesser, until you are able to return to work.||Maximum payable is $3,000 per month up to 36 monthly repayments.
Waiting period of 28 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 minimum monthly repayment as shown on the loan contract when it was first entered into or the date your involuntary unemployment first occurred, whichever is the lesser, for up to 3 months or until you return to work, whichever occurs first.||Maximum payable is 3 months, during any consecutive 12 month period. Maximum amount of $10,000 for the first 5 years of the period of cover from the commencement date and
$10,000 in any subsequent, unbroken period of 5 years thereafter.
Waiting period of 28 days.
Sign up now, with flexible payment options
With First Option, you can arrange both your mortgage loan and Mortgage Protection Plus Insurance at the same time, giving you one less thing to worry about.
For convenience you can pay by cash, cheque, credit card, or in monthly instalments – Whatever suits you best.
- To apply for Mortgage Protection Plus, contact First Option
- To apply for a loan online, click here
- Mortgage Protection Plus product disclosure statement
- Supplementary PDS Mortgage Protection Plus
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 available at First Option Bank to decide if a product is right for you.
Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239 545 and QBE Life (Australia) Limited ABN 83 089 981 073 AFSL 245 492.