Mortgage Protection Insurance

Mortgage Protection Insurance is a life insurance policy designed to pay off your mortgage if you die during the term. It runs for the same length of time as your mortgage. So, if you take out a mortgage over 20 years, your mortgage protection insurance must also be in place for 20 years.

You can change insurer during the term of your mortgage if you find better value elsewhere and Financial Planner offers you the ability to search the market for the best mortgage protection quotations.

Your mortgage lender requires that you affect a mortgage protection policy to cover the mortgage outstanding over the chosen term, in the event of death the insurance company will pay the amount to your lender or to your estate that will clear the mortgage balance.

Your lender may allow you to take out a mortgage without having this insurance if:

• you are buying an investment property

• you are over 50 years old

• due to medical reasons

• you cannot get this insurance

• you have life insurance in place already

This type of insurance does not cover your repayments if you cannot work due to redundancy, sickness or disability. For this type of cover, you will need to consider other types of insurance such as income protection, serious illness or payment protection.

Additional Insurance products & services:

Mortgage Protection | Life Insurance | Serious Illness | Cancer Cover | Income Protection | Whole of Life

or call us on 01 6279495

Our walk in office provides access to qualified insurance advisors covering insurances in Celbridge, Lucan, Maynooth, Leixlip, Clane, Naas and Kildare.