My Lifestyle
For every home lost through fire, there are 52 lost through either death or sickness or accident.                     1 in 6 men suffer a disability between the ages of 35 and 65 that leaves them unable to work for 6 months.                     Taking out the Lifestyle_ Protection Plan earlier in life, and using your continuation option, means you can remain protected regardless of any changes in your health.                     Life protection with the Lifestyle_ Protection Plan is designed to pay the life protection benefit you select if you die or become terminally ill.                     Buying life protection means, if something unexpected happens to you or your partner, you could pay off what’s left of your mortgage and leave some money behind for your family.                     Income protection with the Lifestyle_ Protection Plan is designed to pay the income protection benefit you select if you can't work due to injury or illness.                     It's estimated that a full time worker on average earnings with young children needs $500,000 to $650,000 in life protection.                     Protection is made more affordable when you select to pay your premium with your mortgage settlement.                     A 2005 study showed the average level of life cover through superannuation was only $70,000. This is not enough to cover the average new mortgage in Australia.                     Income protection benefits under LPP accrue from the 1st day of illness or injury.                     Your income protection premiums may be tax deductible.                     Life and income protection is not really something most people care about…until they need it!                     Your protection benefit does not need to be linked to your home loan or home loan repayment amount.                     With the Lifestyle_ Protection Plan, you are covered at work, at home, at leisure, worldwide, 24 hours a day, 7 days a week and 365 days a year.                     Lifestyle_ can offer you protection for your life and income that can be finalised in a matter of minutes. Talk to your mortgage broker today!                     The Lifestyle_ Protection Plan gives you the flexibility to take out only the protection you need and can afford.                     1 in 4 women will suffer a disability between the ages of 35 and 65 that leaves them unable to work for 6 months.                     An application for the Lifestyle_ Protection Plan can be completed in 15 minutes as part of your home financing interview.                     The Lifestyle_ Protection Plan is issued by TOWER Australia Limited.                     The average Aussie family needs 38% of their income to pay loan repayments. Income protection can help you keep up with your mortgage repayments if you’re sick or injured!                     Enjoy your new home or investment knowing you're protected if the unexpected happens.                     You may select between $1,000 and $5,000 per month in income protection.                     You don't need to have a medical examination to buy the Lifestyle_ Protection Plan.                     Select between $100,000 and $750,000 for life protection                     Select between $100,000 and $750,000 for life protection.                     When taking out a mortgage, it's important to think about how you you’re going to protect your key assets – your home, your family and your ability to earn an income.                     As a general rule, any life benefit paid will not be subject to income tax.                     1 Australian dies every 10 minutes from cardiovascular disease.                     Select between $100,000 and $750,000 for life protection.                     Apply for up to $3,000 in income protection without proof of income.                     

Lifestyle_ Protection Plan

The Lifestyle_ Protection Plan is a simple life and income protection product sold through mortgage brokers as part of your home loan process.

Taking out a mortgage is a big financial decision. Have you thought about how you would continue to make your repayments if you couldn't earn an income because you were sick or injured or, worse still, if you weren't around anymore?

Having adequate life and income protection is a simple way of making sure your home, your mortgage and your lifestyle is protected.

 

  • You may select between $100,000 and $750,000 in life protection or between $1,000 and $5,000 in income protection;
  • If you have life protection, you or your nominated beneficiary/ies will receive a lump sum payment if you die or become terminally ill;
  • If you have income protection, you will receive a monthly payment if you can't work because of injury or illness;
  • The 2 page Lifestyle_ Protection Plan application form makes it easy to apply for; and
  • You don't need to have any kind of medical examination to apply!