Loan Repayment Cover

Discussion in 'Loans & Mortgage Brokers' started by Terrychris, 15th Jan, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Terrychris

    Terrychris Well-Known Member

    Joined:
    15th Dec, 2016
    Posts:
    126
    Location:
    Sydney
    Do any of you have Loan Repayment Cover on your IP debt?

    It seems to be ok if you get sick or an illness.

    Mind you Im a but wary of Comminsure's claims
     
    Terrychris, 15th Jan, 2017
    #1
  2. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    No.
    My investment properties will support me in sickness and in health ..till death do we part ...! lol
     
    Beano, 15th Jan, 2017
    #2
    Terry_w and Brian84 like this.
  3. Joynz

    Joynz Well-Known Member

    Joined:
    5th Apr, 2016
    Posts:
    5,755
    Location:
    Melbourne
    I have income protection as part of my super. Would replace my salary for two years.
     
    Joynz, 15th Jan, 2017
    #3
  4. ooneil

    ooneil Member

    Joined:
    16th Nov, 2016
    Posts:
    21
    Location:
    Newcastle
    Get yourself proper income protection cover. This cover is cheap and nasty.
     
    ooneil, 16th Jan, 2017
    #4
  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,654
    Location:
    Gold Coast (Australia Wide)
    You can often get a better range of cover with a fully underwritten policy outside super with a 2 year .wait period and use inside super cover at a much lower rate for the first 2 years via a planner,


    Please seek specific advice

    ta
    rolf
     
    Rolf Latham, 16th Jan, 2017
    #5
  6. Corey Batt

    Corey Batt Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    2,091
    Location:
    Adelaide, SA
    Exactly - better to have a policy which takes into account your actual physical health and cover appropriately, than have a nasty surprise when you go to claim.
     
    Corey Batt, 16th Jan, 2017
    #6