Protect your family, your income and your home.
Book a free, no-obligation insurance chat
Leave your details and Licole will call you back within one business day.
Why have insurance?
Your home loan is probably the biggest debt you'll ever carry.
If illness, injury or death stopped your income, the repayments wouldn't stop with it. The right cover keeps the loan paid and your family in their home.
A relatively small premium moves that risk from your family to the insurer — and gives you peace of mind that there's a plan if something happens.
The four main types of personal cover:
How it works
Life cover
Pays a lump sum to your beneficiaries or estate on death or terminal illness — to clear debts like the mortgage and support your dependants.
Income protection
Pays a monthly benefit — typically up to around 70% of your income — if illness or injury stops you working for a while.
Total & permanent disability (TPD)
A lump sum if you're permanently unable to work, to cover medical costs, home or car modifications and ongoing living costs.
Trauma (critical illness)
A lump sum on diagnosis of a listed serious illness or injury, such as cancer, heart attack or stroke, so you can focus on recovery.
Life cover
Flexible life cover options, including term life, whole of life and universal life.
Details
- Pays a lump sum to your beneficiaries or estate if you pass away or are diagnosed with a terminal illness.
- It lets you clear debts, cover your family's living costs, or leave the financial support you want to give.
Income protection
Financial support when illness or injury stops you from working.
Details
- If a serious illness or injury temporarily stops you working, it pays a monthly benefit to replace part of your income.
- It lets you keep covering everyday living costs and maintain the lifestyle you've built for yourself and your family.
Total & permanent disability (TPD)
A lump sum paid to you if you become totally and permanently disabled.
Details
- If illness or injury leaves you permanently disabled or unable to work, it pays you a lump sum — this includes your work as a homemaker.
- It lets you cover out-of-pocket medical costs, home or transport modifications, your ongoing financial needs, and care for your family.
Trauma (critical illness)
A lump sum if you suffer a major illness or injury.
Details
- Pays you a lump sum on diagnosis of certain serious illnesses or injuries, such as cancer, heart attack or stroke.
- It lets you cover out-of-pocket medical costs and financially support your lifestyle and family while you or your partner (if applicable) take time off — helping you recover.
How the process works
- Identify — we look at the risks that could derail your lifestyle and loan
- Gap analysis — we work out what cover you need, and how much
- Assess — we review any cover you already hold, including inside your super
- Compare — a licensed adviser compares insurers on cover, terms and premium
- Support at claim time — we help coordinate the claim until it's resolved
Why arrange cover with us?
- Cover sized to your actual loan, not a guess
- Reviewed whenever you refinance, upsize or buy an investment
- Explained in English or Mandarin, with no obligation
- Help with paperwork and claims when it matters most
Which cover does what?
| Cover | Pays | Typical use | Can be held in super? |
|---|---|---|---|
| Life | Lump sum | Pay off the mortgage, support dependants | Yes |
| TPD | Lump sum | Medical costs, modifications, living costs | Yes (any-occupation definition) |
| Income protection | Monthly | Keep repayments and bills going | Yes |
| Trauma | Lump sum | Treatment and time off to recover | No — held outside super |
- Cover inside super can be cheaper on cash flow, but may be lower and is reduced by your super balance — check it isn't eroding your retirement savings.
- Income protection premiums held outside super are generally tax-deductible.
- Always disclose your health and lifestyle honestly — non-disclosure can void a claim.
- Don't cancel existing cover until a new policy is accepted.
Common questions
Frequently asked questions
Do I need life insurance to get a home loan?
- No. Lenders require building insurance, not life cover — but personal cover protects your family's ability to keep the home.
How much cover do I need?
- Usually enough to clear the mortgage and other debts, plus an amount for dependants' living and education costs. An adviser works out the figure with you.
Do you give the insurance advice yourselves?
- SYD Mortgage is a mortgage broker. We refer you to a licensed financial adviser who provides the personal insurance advice and recommends a policy.
What does it cost?
- The first chat is free. Premiums depend on age, health, occupation, smoking status and the cover chosen.
Official resources
General information only, not personal advice. Personal insurance advice is provided by a licensed financial adviser we refer you to. Consider the Product Disclosure Statement before deciding.
