Involuntary Unemployment

Important condition:

To claim, you need to be Gainfully Employed before becoming Involuntary Unemployed. Refer to the PDS for the definitions of Gainful Employment and Involuntary Unemployment.

When we won’t pay a claim

Disability Cover

Important condition:

To claim, you need to be Gainfully Employed before the injury or illness causing Disability. Refer to the PDS for the definitions of Gainful Employment and Disability.

When we won’t pay a claim

Death Cover

When we won’t pay a claim

Understanding my insurance options

Information on this page will help you navigate the options available to you

Important update:

You may have recently received a letter from NAB about your NAB Mortgage Protect Policy. If you have any queries relating to that letter and/or the refund provided, please call NAB on 13 22 65. If you have queries about your NAB Mortgage Protect Policy, please see below.

What your NAB Mortgage Protect Policy may cover

Death Cover

In the event of:

Your death or you being diagnosed with a Terminal Illness.

Payment:

A lump sum payable to your NAB Loan account. If the Benefit is higher than the Loan Amount, the balance will be payable to you or your estate.

What’s not covered:

Disability Cover

In the event of:

You being continuously Disabled for more than 30 days due to injury or illness.

Payment:

A monthly Benefit to help cover your repayments for up to 24 months (only six months while you’re overseas) or until you are no longer Disabled (whichever occurs first).

Benefits payable are calculated differently for different types of Home Loans (for information on this, refer to the PDS.

What’s not covered:

Involuntary Unemployment

In the event of:

You being continuously Disabled for more than 30 days due to injury or illness.

Payment:

What’s not covered:

This summary is a guide only. For more information about your Policy, please read the NAB Mortgage Protect Product Disclosure Statement (PDS) and your Policy Document. The definition along with terms, conditions and limitations are outlined in those documents.

View PDS

I’d like to learn about an affordable option to protect my debts, through MLC Debt Insurance

We can help protect your loan repayments when you can’t. MLC Debt Insurance is a more flexible and affordable option to protect loan repayments. It gives you the flexibility to pick the type of cover you want. The cost of cover will be less than your current NAB Mortgage Protect Policy.