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).

Connect with leading medical specialists

  • Connect with over 50,000 leading medical specialists around the world through Best Doctors®.
  • There's no extra cost for this service. For more information visit Best Doctor service.

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

How to make a claim

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

Important information

25% Spring Campaign Terms and Conditions

This offer on NAB Mortgage Protect is valid for applications that are submitted between 14 August – 30 November 2016 (11.59 pm AEST) and applies to the first year’s premiums only. A minimum premium of $150 pa applies. Percentage discount will be applied only to the extent that the premium stays above the $150 minimum premium. Discount may be subject to rounding.

Terms and Conditions

MLC Limited ABN 90 000 000 402, AFSL 230694 is the promoter of this offer and is the insurer and issuer of NAB Mortgage Protect which has been branded and distributed by National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB). MLC Limited may pay benefits to NAB and its related bodies corporate for the distribution of this product. This insurance is not a deposit with, a liability of, or guaranteed by NAB. MLC Limited is part of the Nippon Life Insurance Group and not a part of the NAB Group of Companies. Any financial advice in this notice is general only and has not been prepared having regard to your personal circumstances. You should consider your personal circumstances before acting on any advice in this notice. You should consider the relevant Product Disclosure Statement (PDF, 463KB) available at nab.com.au/nmp before deciding whether to acquire or continue to hold the product.

  • 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.

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