• Term Assurance
• Mortgage Protection
• Income Protection

Mortgage Protection

Product Description

Mortgage Protection is life (and serious illness) cover that is designed to pay off your mortgage in the event of your death (or serious illness).  This is a cheap form of cover as the sum insured reduces as you pay off your mortgage.  The term of this product is linked to the term of your mortgage.  Premiums will not increase at any time during the term of the policy.

Purpose of Product

If you take out a mortgage your lender will require you to take out some form of mortgage protection.  Whilst you are only required by the lender to get life cover, this product can also cover you in the event of a serious illness or permanent total disablement.

Sample Cost

There are great differences in the cost of cover provided by different insurers.  Make sure you shop around and don’t simply accept the cover offered by the lender.  You may end up paying a lot more by going with the lender cover.  We pride ourselves on being able to search the marketplace and offer our clients the most competitive product.

Below are the cheapest available monthly premiums from a survey of Canada Life, Eagle Star, Friends First, Hibernian, Irish Life and New Ireland (as at 05/02/2009).  The quotes are for joint life cover for a couple, both non-smokers.  The assumed mortgage interest rate is 6% per annum.

Costs

Options

In addition to a combination of life and serious illness cover, you can also add these additional benefits:

• Permanent Total Disablement (automatically included with some life companies)
• Hospital Cash
• Personal Accident
• Waiver of Premium
• Inflation Protection
• Protection Continuation

Further Information

To take through your options in greater detail, or to receive a no obligation, personal quote, please contact us.

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