Your Mortgage Is Protected — Even If You Lose Your Job
A rare combination — redundancy, illness, injury, and death cover for your home loan repayments in a single policy.
Standard life insurance doesn't cover job loss. Zurich Home Loan Protection includes involuntary unemployment and redundancy cover alongside illness, injury, and death cover. Premiums decrease as your loan decreases via Open Banking. General advice only.
Get Your Details & Apply
We'll save your details so we can follow up. You'll then be taken to Zurich's 10-minute application.
What happens if you can't make your repayments?
- Redundancy and job loss are not covered by standard life insurance or income protection policies
- 1 in 3 Australians will be unable to work for 3+ months before age 65 due to illness or injury
- Mortgage stress affects 1.4 million Australian households
- Without cover, missed repayments can lead to default, credit damage, and losing your home
Zurich Home Loan Protection has you covered
- Monthly benefits up to $10,000 to cover your mortgage repayments if you can't work
- Lump sum up to $1M to pay off your loan in the event of death or terminal illness
- Unique involuntary unemployment cover not available with standard life insurance
- Premiums decrease automatically as you pay down your loan via Open Banking
- Guaranteed acceptance — no medical exams, no paperwork, cover in under 10 minutes
- Benefits paid to you, not the lender — you decide how to manage your repayments
Involuntary Unemployment & Redundancy Cover
Standard life insurance and income protection do not cover you if you lose your job. This product does.
Up to $10,000/month
Monthly benefit to cover your mortgage repayments while you find new employment
Up to 90 Days Cover
Benefit period of up to 90 days after the 90-day waiting period from redundancy
Not Available Elsewhere
Traditional life insurance and income protection policies do not cover involuntary redundancy — this product fills that gap
Covers involuntary redundancy only (not resignation or termination for misconduct). Must have been continuously employed for the minimum required period before claiming.
Choose Your Level of Protection
Benefits are paid to you, not the lender — choose the level of protection that suits your situation and budget
Life Only
- Death
- Terminal Illness
Provides a lump sum payment up to the value of your outstanding home loan balance (max $1,000,000) in the event of death or terminal illness diagnosis.
Illness/Injury + Involuntary Unemployment
- Illness/Injury
- Involuntary Unemployment
Monthly benefit payments to help cover your home loan repayments if you cannot work due to illness, injury, or involuntary unemployment.
Full Protection
- Death
- Terminal Illness
- Illness/Injury
- Involuntary Unemployment
Comprehensive cover combining life cover (lump sum) with illness/injury and involuntary unemployment monthly benefits for complete home loan protection.
Why Zurich Home Loan Protection?
Modern protection designed for today's home loan borrowers
Premiums Decrease With Your Loan
Using Open Banking, your cover amount and premiums automatically adjust as your home loan balance decreases. You never pay for more cover than you need.
10-Minute Online Application
Apply online in as little as 10 minutes. No lengthy forms, no medical examinations, no financial adviser appointment required.
Open Banking Powered
Securely connects to your home loan via Open Banking to automatically track your loan balance and adjust your cover and premiums accordingly.
Involuntary Unemployment Cover
A unique benefit not available with standard life insurance. If you lose your job through no fault of your own, your loan repayments are covered.
Guaranteed Acceptance
No medical exams, no lengthy paperwork. Guaranteed acceptance via a 12-month pre-existing condition exclusion. Get covered immediately.
Pays You, Not the Lender
Benefits are paid directly to you, not your lender. Choose from 3 flexible cover levels to suit your needs and budget.
Protection for Every Stage of Your Home Ownership Journey
Buying Your First Home?
Protect your biggest investment from day one
You've worked hard to save your deposit and secure your first home loan. Don't let an unexpected illness, injury, or job loss put your new home at risk. Zurich Home Loan Protection gives you peace of mind that your mortgage repayments are covered if life takes an unexpected turn.
Common concerns:
- Stretched budget after saving for a deposit
- Single income or dual income reliance for repayments
- No financial safety net yet for mortgage stress
- Worry about job security in the current market
Upgrading to Your Next Home?
Bigger mortgage, bigger responsibility
Moving to a bigger home often means a bigger mortgage. With more at stake, it's essential to protect your family's lifestyle and your ability to meet higher repayments. Zurich Home Loan Protection scales with your loan so you're covered as your circumstances change.
Common concerns:
- Larger mortgage means higher monthly commitments
- Family responsibilities make missed payments devastating
- Career changes or life events can disrupt income
- Need cover that adjusts as the loan is paid down
Refinancing Your Home Loan?
New loan, new opportunity to protect it
Refinancing is the perfect time to review your protection. Whether you're consolidating debt, accessing equity, or switching to a better rate, Zurich Home Loan Protection gives you an easy way to add cover when setting up your new loan.
Common concerns:
- Changing lenders is an ideal time to add protection
- May have let previous cover lapse
- Consolidating debt increases total loan exposure
- Want simple, modern cover that works with Open Banking
How It Works
Simple application, automatic protection
Apply Online
Complete the 10-minute online application. Answer simple health and employment questions. No medical exams needed.
Connect via Open Banking
Securely link your home loan via Open Banking. This allows Zurich to automatically track your loan balance.
Cover Adjusts Automatically
As you pay down your home loan, your cover amount and premiums decrease automatically. No manual updates required.
Am I Eligible?
Check if you meet the basic eligibility requirements
- Age: 18-59 years old
- Residency: Australian or New Zealand citizen or permanent resident
- Loan Amount: $30,000 to $1,000,000
- Employment: Working 20+ hours per week (for Illness/Injury and Unemployment cover)
- Loan Type: Owner-occupied or investment property home loans
Additional requirements:
- Must have an eligible home loan with a participating lender
- Illness/Injury and Unemployment cover requires employment of 20+ hours per week
- Life cover available regardless of employment status
- Must consent to Open Banking data sharing for automatic premium adjustment
Frequently Asked Questions
Everything you need to know
What does Zurich Home Loan Protection cover?
Zurich Home Loan Protection can cover your home loan repayments if you are unable to work due to illness, injury, or involuntary unemployment. It also provides a lump sum to pay off your loan in the event of death or terminal illness. You can choose from three cover levels: Life Only, Illness/Injury + Unemployment, or Full Protection.How does Open Banking work with this product?
Open Banking allows Zurich to securely access your home loan balance information (with your consent) from your lender. This means your cover amount and premiums automatically adjust as you pay down your loan. You never pay for more cover than you need, and you don't need to manually update your policy.Do I need a medical exam to apply?
No. You are guaranteed acceptance with no medical exams, blood tests, or GP reports required. The application is completed entirely online in approximately 10 minutes. Cover is subject to a 12-month pre-existing condition exclusion, meaning conditions that existed before your cover started will not be covered for claims made within the first 12 months.What is the pre-existing condition exclusion?
There is a 12-month pre-existing condition exclusion period. This means conditions that existed before your cover started will not be covered for claims made within the first 12 months of your policy. After 12 months, pre-existing conditions are covered subject to the policy terms.What counts as involuntary unemployment?
Involuntary unemployment means losing your job through no fault of your own, such as redundancy or company restructuring. It does not cover resignation, termination for misconduct, or voluntary departure. There is a 90-day waiting period before unemployment benefits commence.How much does Zurich Home Loan Protection cost?
Premiums depend on your age, cover level, loan amount, and personal circumstances. Because premiums decrease as your loan decreases (via Open Banking), you may pay less over time compared to traditional fixed-premium products. Get a personalised quote through the online application.Can I get cover for an investment property loan?
Yes. Zurich Home Loan Protection is available for both owner-occupied and investment property home loans, as long as the loan amount is between $30,000 and $1,000,000.What happens if I pay off my home loan early?
If you pay off your home loan, your cover will end as the loan balance reaches zero. Because premiums are linked to your loan balance via Open Banking, they will have decreased progressively as you paid down the loan.How do I make a claim?
Contact Zurich directly to initiate a claim. For illness/injury claims, you will need medical evidence of your inability to work. For unemployment claims, you will need evidence of involuntary termination. Life and terminal illness claims require relevant medical or death certificates.Is this the same as mortgage insurance (LMI)?
No. Lenders Mortgage Insurance (LMI) protects the lender if you default on your loan. Zurich Home Loan Protection protects you by covering your repayments if you can't work, or paying off your loan if you pass away. They are completely different products.
Protect Your Biggest Investment
Apply online in 10 minutes. No medical exams. Premiums decrease as your loan decreases.
Apply NowIssued by Zurich Australia Limited ABN 92 000 010 195, AFSL 232510
General Advice Only
- This is general advice only and does not take into account your individual circumstances.
- Please read the Product Disclosure Statement (PDS) before making a decision.
- Consider seeking personal advice from a licensed financial adviser.
Authorised Representative Number: 1244847 | Australian Financial Services Licence: 246623