Can you pay your mortgage if you lose your job?

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Thursday, 12 February 2009

Being able to pay your mortgage and meet all of your financial commitments, should you lose your job, is something that all home owners need to consider. Involuntary unemployment insurance does just that.

Economists are expecting employers to abandon plans for growth and lay off staff as the global financial crisis continues.

Jobless data released by the Australian Bureau of Statistics shows unemployment rising from 4.5% to 4.8% in December 2008. This is primarily due to a loss of 32,600 part time jobs.

If you are concerned about being able to pay your mortgage and other financial commitments in the event of job loss then maybe you should consider involuntary unemployment insurance.

ACE IRM Insurance Broking Group have a simple and easy involuntary unemployment insurance policy which is underwritten by Zurich Australian Insurance. The policy offers benefits of $3,000 or $5,000 per month and has a 1 or 3 year term. It is available to employees working more than 30 hours per week and is tax deductible.

For a quote on this policy or for more information please contact our office and we would be happy to put you in touch with ACE IRM Insurance Broking.