Mortgage cover now available to Direct customers

ING DIRECT is joining forces with ING Australia to introduce a direct insurance product exclusively for their home loan customers.

Known as Mortgage Protector, the product consists of two types of cover – Life Insurance cover, which pays out your mortgage in the event of death, plus Sickness and Accident cover, which covers your mortgage repayments for up to 30 months if you become ill or are injured, and can’t continue to work. Borrowers can choose either one or both types of cover.

According to an Executive Director of ING DIRECT, Lisa Claes, “Mortgage Protector is the perfect fit for ING DIRECT and our customers. Many of our direct mortgage customers started out with a Savings Maximiser, which led them to a Mortgage Simplifier. It’s great they can now go one step further and source their mortgage insurance through us,”

“There are three ways ING DIRECT customers can apply for Mortgage Protector, online, by mail or by contacting an ING insurance specialist on 1300 721 426,”

“Previously our mortgage customers have had to go elsewhere for their cover. Now we can offer them an exclusive product which is simple and easy to apply for, with a guarantee of quality service. In essence, they have the best of the ING worlds working for them,” said Ms Claes.

This is great news for ING DIRECT mortgage customers, who now have the opportunity to access a more complete range of direct financial products under the ING umbrella.

ING Australia’s Executive Director of Direct Insurances Richard Schoeffer, believes that the product’s appeal lies in its range of features, designed to reflect the changing needs of the consumer market.

“ING’s Mortgage Protector is quite innovative in that it provides Sickness and Accident cover for non-working partners recognising their importance and responsibilities within the home and community. Many of our competitors do not provide cover for non-working partners.”

“Additionally Mortgage Protector provides the flexibility to take out life cover for the full amount of the home loan or a percentage of the loan. This enables the customer to select the level of cover based on affordability,”

“We also re-evaluated the standard age restrictions and made a decision to extend the cover up to 62 years of age, compared with most providers who only provide cover to age 55,”

“This is the first product of its kind which can be purchased online.” said Mr Schoeffer.