What is Mortgage Protection Insurance?
Mortgage protection insurance covers your home loan repayments if you lose your income through illness, injury or unemployment. Different from LMI (which protects the lender) — this protects you.
Why it matters for you
Often offered at loan origination by lenders. Assess on value — compare premium cost to alternatives like income protection insurance, which often provides broader coverage for similar premium. Not always the best option despite being convenient.
Last updated: April 2026