Benefits and features

3 covers, 1 policy

  • Convenience and peace of mind knowing your mortgage repayments will be covered.

Life cover

  • Up to $1 million paid as a lump sum to your home loan if you’re diagnosed with a terminal illness or die.

Disablement cover

  • Covers your loan repayments for up to 24 months at a time if you’re unable to work (up to $7,500 or $10,000 per month, depending on loan and repayment type).

Involuntary unemployment cover

  • Covers your loan repayments for up to 90 days if you lose your job (up to $7,500 or $10,000 per month, depending on loan and repayment type).

Rates and fees

Insurance premiums are calculated on:

  • your loan account balance or limit
  • the size of your minimum loan repayment
  • your age, and
  • your gender.

Premiums start at $150 per year.

Each year, your premium will be reviewed and adjusted if needed (depending on your loan balance, your age and loan repayment amounts).

Details of your cover

Applying for home loan insurance


If you would like to make a claim, call 1300 125 246, 8am-5pm, Mon-Fri AEST/AEDT.

Important information

Terms and Conditions

You should consider the Product Disclosure Statement for NAB Mortgage Protect available in store and online at before making any decision about this insurance and for insurance eligibility terms, conditions, limits and exclusions. MLC Limited ABN 90 000 000 402 AFSL 230694 is the promoter of this offer, is the insurer/issuer of the insurance, prepared the PDS and is a related body corporate of NAB. This product has been branded ‘NAB’ by National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686. A NAB Mortgage Protect policy does not represent a deposit with, or liability of, NAB. Neither NAB, nor any of its related bodies corporate (except for MLC as insurer), accepts liability in respect of the policy or guarantees payment of any insurance, claim or benefit.

  • Wait periods apply for some types of cover, but Life Cover begins the moment your loan is drawn down (if you apply with your home loan).
  • You can pay monthly or annually—by credit card or direct debit. It’s separate to your home loan repayment.
  • Premiums and benefits are adjusted each year in line with your home loan balance.
  • Pre-existing medical conditions are not covered.
  • Home loan insurance is optional—don’t have to take it out to be approved for your home loan.
  • Please consider the exclusions, fees, charges and limitations of this insurance contained in the Product Disclosure Statement (PDS) of NAB Mortgage Protect (PDF, 351KB) before applying. Please also review the NAB Mortgage Protect Product Changes (PDF, 239KB) – effective 16 May 2016.
  • Our Supplementary PDS for NAB Mortgage Protect (PDF, 323KB) has information relating to offers to existing NAB home loan customers who may wish to take up home loan insurance. Please read this Supplementary PDS in conjunction with the first PDS in the link above.

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