Mortgage Protection

Mortgage protection Insurance is required by banks before they will grant a mortgage on a property. The policy must provide cover for the full amount of the mortgage that is being sought.

If you die during the term of your plan, whatever is left of the mortgage will be paid off, as long as the mortgage repayments are up to date and the mortgage interest rate has not, on average, risen above the assumed interest rate. The monthly payments made are fixed for the term of the plan.

Premiums start from as little as €10 per month.  However, quotes will vary based on the amount of cover being applied for, the term of the policy and your own personal details.  A proposal form is required to capture all the required information and provide a quotation.

You can choose to add on specified illness cover to the policy for an extra cost. This gives the ultimate peace of mind ensuring your finances are taken care of should you be diagnosed with a serious illness during the term of the plan.

There is also the option to include Guaranteed Cover Again (also called conversion option).  This allows you the option to change cover to another Mortgage Life Insurance plan (or equivalent) at any stage throughout the term of the plan, without any new evidence of health.

Reviewing Your Mortgage Protection Cover

Smoking is a big rating factor for mortgage protection insurance. If you’ve quit smoking since taking out your original policy, there might be saving to be made.  Did you get your mortgage protection insurance through a bank? If yes, then we can likely save you money.  The bank only deals with one Life Insurance Company.  Higgins Life and Pensions shop around to get you the best price.

Higgins Life and Pensions shop around to get you the best price.