My Protection Plan

A lot can happen over your lifetime

Certain events can occur, which are out of our control such as serious illness or injury and these events can put our lifestyles, homes and our future plans at risk. So, it goes without saying that it’s worth considering how you might protect your future financial security.

My Protection Plan is a potential solution Mortgage Choice brokers can offer which may help protect you and your family against the financial impact of some of life’s unexpected events. Here is a short video to help you learn more.

You can choose how and when you use those benefit funds – for instance, to help with living expenses, medical costs, or reduce large debts.

Just as important, My Protection Plan is flexible, doesn’t require any medicals and covers all types of employment.

How do I know if I’m eligible for a policy?

To be eligible for this policy, each life insured must:

• have or be seeking to take out an eligible loan, or be the partner of someone who has applied for My Protection Plan
• be an Australian or New Zealand citizen, or hold an Australian Permanent Residency Visa
• be 18 to 59 years old
• have more than $100,000 but no more than $1,000,000 in total Death and Terminal Illness Benefit across all My Protection Plan policies issued by Zurich at the time of the new application (including this policy)
• have lived in Australia on a permanent basis for at least 6 months continuously during the past 12 months. Being away from Australia for work purposes or holidays does not count for determining if they have lived in Australia continuously.

The policy owner must receive a copy of the PDS in Australia.

How much does My Protection Plan cost?

You have the flexibility to choose and adjust the level of cover (within the policy limits) to suit your needs and affordability.

Example 1

Jenny is 32 and a non-smoker. She has a $400,000 Death & Terminal Illness Benefit, $120,000 Trauma Benefit and Specified Injury Benefit of $7,500. Jenny will pay $59.52 a month for cover (including $7 monthly policy fee).

Example 2

Matt is 29 and a non-smoker. He has a $280,000 Death & Terminal Illness Benefit, $84,000 Trauma Benefit and Specified Injury Benefit of $7,500. Matt will pay $51.18 a month for cover (including $7 monthly policy fee).