Zurich's Home Loan Protection: Tailored Insurance for Mortgage Holders
Zurich's Home Loan Protection: Tailored Insurance for Mortgage Holders
0
Zurich has unveiled its Home Loan Protection (HLP) product, a new insurance offering that combines life and income protection benefits tailored specifically for mortgage holders.
This innovative cover automatically adjusts its premiums as the insured's mortgage balance decreases, ensuring that policyholders are only paying for the coverage they need.
Utilizing Open Banking technology provided under the Consumer Data Right regime, HLP ensures that coverage aligns with the outstanding mortgage amount. In the event that a policyholder is unable to work due to illness or injury, or becomes unemployed through no fault of their own, the product provides instalments to cover loan repayments or day-to-day expenses. In cases of death or terminal illness, a lump sum is provided to pay off the remaining mortgage balance.
Tim Kane, Zurich's Head of Retail, highlighted the significance of this offering: "HLP is designed specifically for this need. It combines life and income protection-style benefits, including cover for involuntary unemployment, without requiring a medical underwriting process."
This product addresses a key factor in financial insecurity among Australians—the burden of mortgage repayments during unforeseen circumstances. By integrating life and income protection benefits with a dynamic premium structure, Zurich's Home Loan Protection offers a comprehensive solution for homeowners seeking financial security.
Published:Sunday, 15th Mar 2026 Source: Paige Estritori
In a significant move to address the insurance needs of Australia's growing casual and contract workforce, TAL has partnered with global insurtech company Cover Genius to launch Backd. This innovative digital-only insurance product aims to provide accessible and affordable life and income protection coverage to workers who have traditionally faced challenges in obtaining such protection. - read more
Zurich has unveiled its Home Loan Protection (HLP) product, a new insurance offering that combines life and income protection benefits tailored specifically for mortgage holders. This innovative cover automatically adjusts its premiums as the insured's mortgage balance decreases, ensuring that policyholders are only paying for the coverage they need. - read more
The Australian general insurance industry is on a trajectory for substantial growth, with direct written premiums (DWP) projected to exceed $144 billion by 2029. This forecast, provided by data and analytics firm GlobalData, reflects a compound annual growth rate (CAGR) driven by increasing demand for coverage in response to the rising frequency of natural disasters. - read more
Australia's accident and health (A&H) insurance sector is on track for significant growth, with projections indicating an annual increase exceeding 4% through to 2030. This positive outlook is largely attributed to advancements in digital distribution channels and escalating health-related expenses. - read more
The Australian Securities and Investments Commission (ASIC) has initiated a comprehensive review into the accuracy and transparency of motor insurance pricing practices. This move aims to ensure that insurers are adhering to legal disclosure requirements and providing clear information to consumers. - read more
Income protection insurance is designed to provide financial support if you're unable to work due to illness or injury. It ensures a portion of your income continues to be paid during times when you cannot earn. This type of insurance acts as a safety net, offering peace of mind by securing your financial stability during challenging times. - read more
Income insurance is a critical component of financial planning, offering a safety net when life's uncertainties impact your income stream. It ensures that you can continue meeting your financial obligations even if you're unable to work due to illness or injury. This peace of mind is invaluable, especially in an unpredictable job market. - read more
Insurance plays a crucial role in safeguarding our financial future. It serves as a safety net, ensuring that we can manage unexpected events without severely impacting our financial stability. For Australian adults, having the right types of insurance coverage is essential for peace of mind and financial security. - read more
Income protection insurance is a vital safety net for individuals across various professions, designed to provide financial stability if one is unable to work due to illness or injury. This type of insurance replaces a percentage of your income, alleviating the burden of regular expenses while you focus on recovery. For medical professionals who often have high earnings and extensive financial commitments, this coverage is particularly important. - read more
Income protection insurance is a financial safety net for individuals who are unable to work due to illness or injury. It ensures that you receive a percentage of your income during times when you cannot earn a salary, helping you maintain your lifestyle as you recover. This type of insurance offers peace of mind by providing financial support when it is needed most, allowing you to focus on recovery rather than financial pressures. - read more
Start Here !
Apply now for your free Income Insurance assessment and price
comparisons!
All quotes are provided free and without obligation. We respect your privacy.
Knowledgebase
Reinsurance: Insurance that an insurance company purchases from another insurance company to mitigate risk.
