What Are Mortgage Protection Insurance Claims

Mortgage Protection Insurance Claims FAQ

Helping You Secure Peace of Mind During Tough Times

If you’re struggling with mortgage repayments due to illness, injury, involuntary unemployment, or other unexpected events, Mortgage Protection Insurance (MPI) could provide vital financial relief. At Claimsplus Lawyers, we specialise in helping Australians navigate MPI claims, ensuring you get the support you need to protect your home and future.

What is Mortgage Protection Insurance?

Mortgage Protection Insurance is a financial safety net designed to help cover your mortgage repayments when life takes an unexpected turn. It offers support in situations such as:

• Serious Illness or Injury: When health issues prevent you from working.
• Involuntary Unemployment: If you lose your job unexpectedly.
• Death or Terminal Illness: Providing financial security for your family.

MPI ensures that your mortgage remains manageable during tough times, offering peace of mind and stability.

Who Provides Mortgage Protection Insurance?

Many lenders and financial institutions in Australia offer MPI, often bundled with home loans. Some of the major providers include:

• ANZ Bank
• Commonwealth Bank (CommBank)
• Westpac
• NAB (National Australia Bank)
• Suncorp Bank
• St.George Bank
• Bank of Queensland (BOQ)
• ING Australia
• Bendigo Bank
• Macquarie Bank
• Bankwest
• Heritage Bank
• Aussie Home Loans
• Mortgage Choice

Despite being part of home loan packages, many borrowers are unaware they have MPI or how to make a claim.

Could You Have Mortgage Insurance Without Knowing It?

It’s not uncommon for homeowners to be unaware of their MPI coverage. This could happen if:

• The policy was included in your home loan agreement without clear mention.
• MPI was offered as part of a package deal when you secured your mortgage.
• A financial advisor or mortgage broker recommended it, but you don’t recall the details.

If you’re unsure whether you have MPI, Claimsplus Lawyers can review your documents to confirm your coverage.

Free Claim Check: Do You Have a Valid Claim?

At Claimsplus Lawyers, we offer a free claim check to determine if you’re eligible for a claim. Our legal experts will assess your policy and personal circumstances, giving you clarity and peace of mind.

How Long Does a Mortgage Protection Insurance Claim Take?

The timeframe for processing MPI claims varies depending on:

• Case Complexity: Complex cases may require additional documentation or investigation.
• Insurer Responsiveness: Some insurers process claims faster than others.
• Documentation Requirements: Missing or incomplete paperwork can cause delays.

On average, MPI claims take 4 to 12 weeks to process. At Claimsplus Lawyers, we streamline the process by managing all communications with the insurer and ensuring your paperwork is complete, reducing unnecessary delays.

How We Can Help

Navigating MPI claims can be stressful, especially during an already difficult time. At Claimsplus Lawyers, we provide comprehensive support to make the process as smooth as possible.

Our Services Include:

• Policy Review: We assess your MPI policy to identify your entitlements.
• Claim Management: From paperwork to insurer communications, we handle every aspect of the claim.
• Advocacy: We ensure your claim is processed fairly and fight for your rights if challenges arise.

Benefits of Choosing Claimsplus Lawyers

Compassionate Support

We understand the emotional and financial strain of unforeseen circumstances and provide empathetic, professional assistance tailored to your needs.

Pay on Success Guarantee

You only pay if we successfully secure your claim, ensuring peace of mind throughout the process.

Clear Communication

We simplify the claims process by keeping you informed every step of the way, ensuring transparency and clarity.

Frequently Asked Questions

What does MPI typically cover?
MPI generally covers your mortgage repayments if you’re unable to work due to serious illness, injury, involuntary unemployment, or death.

Can I claim MPI if I have other forms of insurance?
Yes, MPI claims are separate from other insurance policies, such as Income Protection or TPD, and can often be claimed simultaneously.

What happens if I’m unsure about my MPI coverage?
Claimsplus Lawyers can review your home loan documents and policy details to confirm whether you’re covered and eligible for a claim.

How can MPI benefit my family?
In the event of death or terminal illness, MPI can help secure your family’s financial future by covering mortgage repayments.

Find Out If You Have a Claim Today

If you’re struggling with mortgage repayments due to unexpected circumstances, let Claimsplus Lawyers help you determine your eligibility for a Mortgage Protection Insurance claim.

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