What is mortgage protection?

Mortgage Protection Insurance

Keep your home loan paid if illness or injury stops you working, so your family can stay put while you get back on your feet.
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Your home stays yours

Monthly payments that cover your mortgage while you can't earn.

Breathing room to recover

Focus on getting well, not on how you'll make the next repayment.
Why mortgage protection

What is mortgage protection insurance?

Mortgage protection insurance (also called mortgage repayment cover) pays you a monthly amount if illness or injury means you can't work. The payments are set to match your mortgage repayments, so your home loan keeps getting paid while you recover. In New Zealand, most insurers let you cover up to 115% of your repayments, which leaves a little extra for rates and house insurance.
Monthly payments matched to your home loan
Covers illness and injury, at work or at home
Up to 115% of your repayments with most insurers
Option to add redundancy cover with some insurers
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How it works

We know you're busy, so we keep it simple

1
Get an instant quote — Answer a few quick questions and see a ballpark price in about 2 minutes.
2
Talk it through with an adviser — We compare options across NZ's leading insurers and tailor a recommendation to your actual situation — not a one-size-fits-all policy.
3
Get covered — Happy with the plan? We handle the application and all the back-and-forth with the insurer, and we're in your corner at claim time too.
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How it works

How does mortgage protection work?

You pick three things when you set up your cover, and together they shape what you pay and how you're looked after if you claim. Your Buffer adviser walks you through each one.
Cover amount: what you'll be paid each month, based on your mortgage repayments.
Wait period: how long you're off work before payments start, usually 4 to 13 weeks. A longer wait means a lower premium.
Benefit period: how long payments can last, from 2 years up to age 65 depending on the insurer and period you select.

Mortgage protection vs income protection

Both pay you monthly if you can't work. The difference is what the payment is based on.

Mortgage protectionIncome protection
What it coversYour mortgage repaymentsA share of your income, usually up to 75%
Monthly amountUp to 115% of your repaymentsBased on what you earn
Best forKeeping your home loan coveredCovering all your living costs
Payments if you're on ACCUsually paid on top of what ACC gives youUsually reduced by what ACC pays you
Proving your income at claim timeUsually not needed, as the amount is agreed upfrontOften needed, depending on the policy type

Many families have both, or a mix. We'll help you work out the right balance for your budget. Learn more about income protection.

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"This brokerage is the best I've encountered. They worked closely with me to find an insurance provider that met my needs. Sascha is a wonderful broker and person, with a deep understanding of the system, making it easy to navigate toward my goals."
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"I have had a fantastic experience dealing with Sascha! He is very thorough and really captures the needs of his clients. His communication is excellent and I felt that our insurance is now in great shape. Highly recommend Sascha!"
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"Sascha was great to deal with, met with us after hours & came to us. Sascha explained all the different insurance options & was easy to talk to. Would recommend 100%."
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"The whole process was painless- Sascha was easy to talk with, and he kept me in the loop when we were waiting to hear about approvals.I would recommend him to anyone wanting to look at their options for insurance."
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"I couldn’t speak more highly of Sascha’s service! He took the time to really listen and understand our lives to give us the best possible insurance solutions. He was patient with all our questions and took the time to make sure we understood everything. You will struggle to find this kind of high quality and personalized service anywhere else."
- Amy R.
"Sascha is an objective, independent Broker who always has our family's best interests at heart; getting us the best deal from an array of Providers, be it Medical, Life or Income Protection. We love his great service and prompt assistance when needed. Totally trust his suggestions & advice!"
- Hazel J.
"The biggest asset to Buffer is their service and extreme responsiveness. Sascha has come back to me within the same day of inquires being raised which is unheard of in the industry. I feel genuinely cared for whenever I deal with Buffer."
- Kenny K.
"Couldn't recommend Buffer enough!!! From start to finish Sascha made the process easy to understand. Would highly recommend getting an insurance broker, they really know what they are doing!"
- Adam T.
"I left sorting out income protection and life insurance for so long because I assumed it would be too expensive, but when I finally made the call to get it sorted I found that it was actually really affordable and Sascha helped me with finding the right fit for me and my family. Thanks for the help!"
- Morgan T.
"Great, friendly service and the guys from Buffer will always give you honest advice.You can trust them and that is important.They cover life, health and business insurance.Will recommend Buffer to anyone seeking to use insurance brokers."
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"Sascha was very accommodating to what I needed went out of his way to get me the best options possible would highly recommend it to my family and friends as this was a very good experience."
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"Well what a professional experience I have had with this team. From start to end it was easy, fast and simple. Yet all my needs were met. Thank you that my life and my partners life is in good hands"
- Ken M.
Is it right for you?

Do I need mortgage protection?

If your household couldn't keep up with repayments for a few months without your income, it's worth a look. ACC only covers injuries from accidents, so illnesses like cancer, heart conditions or mental health aren't included. Sick leave and savings tend to run out faster than most people expect.
First-home buyers stretching to buy
Families relying on one main income
Self-employed Kiwis with no sick pay
Anyone who's just refinanced or topped up their loan
Talk to an adviser

Already have cover through your bank?

Bank mortgage insurance is quick to add, but it's often less competitive and comprehensive than other options on the market. We compare options across several insurers and can review what you already have, so you can see if it still fits.

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Mortgage Protection FAQs

Ask us directly
01

How much does mortgage protection cost in NZ?

It depends on your age, health, job, how much cover you choose and your wait period. Choosing a longer wait period is one of the easiest ways to bring your premium down. We'll compare quotes from several insurers so you can see the options side by side.
02

Is mortgage protection the same as life insurance?

No. Mortgage protection pays you monthly while you're alive but can't work. Life insurance pays a lump sum if you pass away or are diagnosed with a terminal illness, which your family could use to pay off the mortgage. Many homeowners have both.
03

Does ACC cover my mortgage if I can't work?

Only if you're hurt in an accident. ACC doesn't cover illness, which is a common reason people end up off work for months at a time. Mortgage protection covers both illness and injury.
04

Does mortgage protection cover redundancy?

Not as standard. Some insurers let you add redundancy cover, which pays your repayments for a limited time if you lose your job. We'll let you know which options include it.
05

How long is the wait period?

You choose it when you set up your cover. Common options are 4, 8 or 13 weeks. A good rule is to match it to how long your sick leave and savings would last.
06

Can I get mortgage protection if I'm self-employed?

Yes, and it's often even more important because you don't have sick pay to fall back on. You'll usually need to show your mortgage repayments when you apply.
07

How much does it cost to use Buffer?

And the best part? Our advice usually comes at no cost to you! That's because we're paid by the insurer, and that cost is already built into any policy, whether you come through us or go direct to the insurer. So you may as well work with us and have someone in your corner! You can learn more about how we're paid by clicking here.
08

What happens if I refinance or my repayments change?

Your cover doesn't always go up on its own when your repayments do. Let us know when you refinance, top up or move house, and we'll check your cover still matches your loan.
Why Buffer

Why use an insurance advisor?

Unlike working with one single insurance provider, as licensed Financial Advisors, we're able to advise you on which policy is right for you across multiple insurance companies while ensuring you get the most favourable terms on your policy. We also advocate for you and your family in the event of a claim to ensure the whole process goes smoothly.
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Click here to read more about what we do.
Access to exclusive insurance solutions
Available 7 days a week
We work with NZ's Top insurance providers
We advocate for you throughout the entire process, from application to claim
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Protect your home

Find out what cover fits your loan and budget.

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