Owning your own home is a goal for many New Zealanders. It provides you with an asset which will grow in value over time as well as being the place you spend most of your time, bring up your family and grow old in.

Of course if you can’t pay your mortgage then that home can turn into the biggest financial headache you will ever experience.

After high school, Anna went straight into full time employment, working as a photography assistant. This meant long hours and often working weekends, but it was a job she was really passionate about.

By 22 Anna had saved enough money for a deposit for her own home and after gaining finance from the bank she made the owners of a two bed roomed bungalow an offer, which they accepted.

At the time of sorting out her mortgage, Anna’s bank suggested she consider some insurance to ensure her mortgage would be repaid if she died. Anna did some research and arranged a meeting with a reputable Adviser. After discussions with him, Anna took out a SmartLife policy with enough cover to ensure her mortgage would be repaid if she died, became terminally ill, suffered a serious medical condition or procedure or became totally and permanently disabled. There would also be enough funds left over to repay any other small debts and cover the costs of her funeral.

Anna also took out an Income Protection policy. This policy would ensure that if Anna couldn’t work for a period of time, she would still have some income coming into pay her mortgage each fortnight and take care of everyday living costs such as her power and phone bill.

Anna has just spent her two-week holiday renovating her bathroom. She loves owning her own home, and the comfort that if her health should fail her, she will have funds to help pay her mortgage and keep renovating her home for as long as she pleases.