A great loan means little if you haven't protected your ability to repay it. Insurance is an essential part of any sound financial strategy — covering your property, your income, and the people who depend on you. At Wiseman Financial Solutions, we help our clients think through their insurance needs and connect them with appropriate providers.
Common Challenges
What's Included
Our Process
Why Choose Wiseman Financial?
Frequently asked questions
Do I need building insurance before settlement?
Yes. Most lenders require evidence of building insurance before releasing funds at settlement. We remind clients of this well in advance.
What is Lenders Mortgage Insurance (LMI)?
LMI protects the lender (not you) if you default and the sale of the property doesn't cover the outstanding loan balance. It's typically required when your deposit is less than 20%. We include LMI costs in your full loan cost analysis.
Should I get income protection insurance when taking out a home loan?
This is worth seriously considering. If you lose your income due to illness or injury, income protection insurance can cover your mortgage repayments. We recommend discussing this with a financial adviser.
Do I need landlord insurance for my investment property?
Landlord insurance is strongly recommended for investment properties. It covers risks like tenant damage, loss of rental income, and legal liability that standard building insurance may not cover.