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Along with the excitement of your first home or investment property comes the worrying question: "How will my family continue mortgage payments if I die or become seriously ill?" Westpac's Mortgage Secure insurance provides peace of mind in the event of such a tragedy.

Read these real-life examples of how Mortgage Secure gave Ben and Louise peace of mind when they bought their new home and enabled Jenni to keep her family home after her husband passed away.

Mortgage Secure - available to Westpac home or investment loan customers, offers 2 types of benefits:

1. It pays a lump sum (up to $750,000) on your mortgage with any excess amount paid to your estate or surviving policy owner.

2. An optional Living Benefit (50% of the death benefit) paid if you suffer 1of 6 medical conditions: cancer, coronary artery bypass surgery, heart attack, stroke, paralysis and loss of independent existence.

Eligibility

You must be aged 18 to 54 (inclusive), have a home or investment loan with Westpac and answer a simple health declaration.

To apply, or to obtain a quote, simply phone 1300 550 104 or ask at any branch.

For more information see our Product Disclosure Statement (PDS). We recommend you read the PDS carefully so that you understand what Mortgage Secure covers, its limitations and how to make a claim.

Mortgage Secure - some real life examples

Ben and Louise's Mortgage Secure policy

Newlyweds, Ben and Louise, were looking to purchase their first home. They realised the need to protect the investment by ensuring neither was left to cover the mortgage on their own.

During the application process they took out Mortgage Secure insurance to cover the $500,000 loan. This gave them peace of mind knowing that if the unforeseen was to happen to either of them, the loan would be covered, alleviating the stress and heartache of potentially losing their home altogether.

They found the process to be quick and easy. They were able to complete the simple health declaration and once their Westpac home loan was finalised, Ben and Louise were instantly covered by Mortgage Secure.


Jenni's Mortgage Secure claim

Jenni's husband of 25 years, David, was driving to work, just like he did at the same time everyday. However, this day would be different. He lost control of his car trying to avoid a multiple vehicle accident and crashed. He was killed instantly.

Finding out that David had been killed was obviously devastating for Jenni. Discovering that he had no insurance to help pay expenses, would add unbearable strain, both emotionally and financially.

Fortunately, Jenni was able to claim on her husband's insurance, taken out 5 years earlier. After the accident inquiry, which included a coroner's report, Westpac Life accepted the claim of $400,000.

As Jenni and David only had a mortgage debt of $200,000, the outstanding amount of $200,000 was paid directly to Jenni. This meant she was able to keep the home they shared together and not have to worry about paying the mortgage repayments on her own.

Accidents and illness do not discriminate: age and lifestyle are no protection from tragedy. In Jenni's case, the devastating would have been much worse if David had not realised the importance of insurance.