Loan Repayment Cover

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

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  1. Terrychris

    Terrychris Well-Known Member

    Joined:
    15th Dec, 2016
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    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
     
  2. Beano

    Beano Well-Known Member

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    Brisbane
    No.
    My investment properties will support me in sickness and in health ..till death do we part ...! lol
     
    Terry_w and Brian84 like this.
  3. Joynz

    Joynz Well-Known Member

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    Location:
    Melbourne
    I have income protection as part of my super. Would replace my salary for two years.
     
  4. ooneil

    ooneil Member

    Joined:
    16th Nov, 2016
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    Location:
    Newcastle
    Get yourself proper income protection cover. This cover is cheap and nasty.
     
  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    15th Aug, 2005
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    Location:
    Gold Coast
    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
     
  6. Corey Batt

    Corey Batt Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    2,092
    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.