Utilizing Open Banking technology provided under the Consumer Data Right regime, HLP ensures that coverage aligns with the outstanding mortgage amount. In the event that a policyholder is unable to work due to illness or injury, or becomes unemployed through no fault of their own, the product provides instalments to cover loan repayments or day-to-day expenses. In cases of death or terminal illness, a lump sum is provided to pay off the remaining mortgage balance.
Tim Kane, Zurich's Head of Retail, highlighted the significance of this offering: "HLP is designed specifically for this need. It combines life and income protection-style benefits, including cover for involuntary unemployment, without requiring a medical underwriting process."
This product addresses a key factor in financial insecurity among Australians—the burden of mortgage repayments during unforeseen circumstances. By integrating life and income protection benefits with a dynamic premium structure, Zurich's Home Loan Protection offers a comprehensive solution for homeowners seeking financial security.
Published: Sunday 15th March, 2026
Please Note: If this information affects you or is relevant to your circumstances, seek advice from a licensed professional.
