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What is Mortgage Protection Insurance? 

Mortgage Protection Insurance is a specific type of protection designed to pay off a mortgage in the event of death. Mortgage Protection which is also known as decreasing term life insurance is usually a compulsory requirement from lenders prior to finalizing any mortgage financing.

Mortgage Protection is typically spread across the term of a mortgage and will cover the main policyholder and any joint applicant(s) on the mortgage throughout the term of the policy.

Having mortgage protection provides peace of mind for the policyholder and their loved ones by ensuring that the mortgage with which it is associated will be cleared in the event of premature death.

This eliminates any need for an outstanding debt to be passed on to the next of kin and makes sure that the mortgage lender is repaid in full.

This not only protects the policyholder and their family but also the lender so that they are not forced into selling the property in the event that the outstanding balance cannot be cleared.

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How We Can Help 

We connect you with specialist advisors that have a wealth of experience in securing the best Mortgage Protection Insurance premiums. Once you’ve requested a quote they will compare the market on your behalf which saves you time and hassle.

Our advisors have direct relationships with the most reputable mortgage protection companies in Ireland to ensure that you get the right cover and at the best price.

Using their vast expertise and industry knowledge they will thoroughly assess your requirements and obtain mortgage protection quotes that match your specific needs in a matter of minutes.

Whether you need a full term mortgage protection insurance policy or cover for an interest only mortgage they can help. To learn more please request a free no obligation quotation.

Best Mortgage Protection Quotes Comparison

There are a number of insurance companies in Ireland that provide mortgage protection cover. Our advisors have direct access to these providers  which allows them to get quotes in a matter of minutes.

Once a client has provided all the necessary information and requirements, policies for mortgage protection can also be put on cover the same day if required.

If you are in the process of securing quotes you will no doubt understand that this is a time-consuming and tedious process.

Our advisors simplify this for you by handling all the necessary requirements and comparing the market on your behalf.

They will get mortgage protection quotes from the most suitable and affordable providers to ensure you get the cover you need and at the best price available.

They may also have the ability to beat any alternative mortgage protection quote if the policy meets a minimum threshold. Find out how much you could save by requesting a mortgage protection quote.

Types of Cover and Protection Available 

Mortgage Protection is typically designed to clear any outstanding balance on a mortgage in the event of death. There are two specific types of mortgage protection that meet these requirements.

These are known as Reducing Term Cover and a Level Term Policy. Below we have provided some summary information on these types of protection insurance:

Reducing Term Cover

As you continue to meet your monthly mortgage payments the outstanding mortgage amount will reduce. With reducing term cover mortgage protection insurance the amount the policy covers reduce alongside the mortgage balance.

In normal circumstances, the policy finishes once the mortgage is paid off and typically the policy premium does not change over the term although the level of cover does decrease.

Reducing Term Cover is usually the cheapest form of mortgage protection.

Level Term Policy

With this type of mortgage protection the amount you are covered for and the premium you pay throughout the policy remains the same.

This effectively means that as you continue to pay your mortgage the balance will reduce but the cover of the policy will remain the same.

In the event of death prior to your mortgage being paid off this type of mortgage protection insurance will clear the outstanding amount with the lender and any balance due will be paid to your next of kin.

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Main Benefits of Mortgage Insurance Protection 

Mortgage Protection offers many benefits including:

Peace of Mind – Your family will not be burdened with any financial commitments.

Security – You can enhance your policy to cover against serious illness or disabilities.

Flexible – Policies can be tailored to meet your specifics needs throughout the term.

Protection – Your mortgage balance will be paid off in the event of death.

If you have a requirement for a mortgage or looking for the best mortgage protection insurance for seniors. please complete our free quotation form to see how our advisors can help.

Your details will be handled by specialists who can discuss your requirements and ensure you get the cover you need and at the most affordable rates quickly and easily.

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What type of Mortgage Protection Insurance do I need?

This will depend on your specific requirements.  Each persons needs are unique and can only be assessed once we have details of the type of cover you or your lender require.

To get a free no obligation review of your mortgages protection insurance requirements please complete our quick online application.

How much Mortgage Protection Insurance do I need?

The level of cover required will depend on the amount of your mortgage and any specific requirements that you or your lender may have.

Some clients will require mortgage protection insurance that simply covers the balance of any mortgage in the event of death whilst some clients will also require protection that provides additional benefits to their next of kin.

Once you have completed out quick online application an advisor will quickly compare the market for suitable quotes.

They will then contact you to discuss the options in detail and review any additional requirements you may have for mortgage protection insurance.

How long does it take to get Mortgage Protection Insurance Quotes?

Our free quotation form for mortgage protection insurance quotes can be completed in as little as 1 minute.

Once we have your details our specialist advisors will compare the market on your behalf and get the most competitive mortgage protection insurance quotes available in a matter of minutes.

If you are looking to compare the market yourself however this could take a considerable amount of time as each company will have it’s own application and quotation process.

To save yourself the time and hassle please complete our mortgage protection insurance quotes form for a free review.

Who is covered under a Mortgage Protection Insurance Policy?

Mortgage Protection Insurance covers the policy holder and any joint applicant(s) required as part of a mortgage application.

Outside of the policy holder(s) the main beneficiaries are the mortgage lender as they will have securities that any outstanding balance will be cleared in the event of a premature death.

Whilst protecting the mortgage is the primary purpose of mortgage protection additional covers can be added for the policy holder(s) to provide benefits for serious illness or income protection insurance if required.

How much does Mortgage Protection cost?

The premiums for Mortgage Insurance can only be calculated once your requirements and the level of cover required are confirmed.

The insurance company will first need to know these prior to confirm any premiums for the mortgage protection insurance policy.

Premiums will always be dependent on the amount of cover required, applicant details, term of the policy, and the number of applicants it will cover.

Once you have completed our quick quotation form our advisors will compare the market to get you the most affordable and suitable mortgage protection policy.

How do I get Mortgages Protection Insurance quote?

Our service for mortgage protection insurance is designed to be quick, easy and hassle free.

All you have to do is complete our quotation form which will capture the required information our advisors need to compare the market on your behalf.

Our advisors are specialists in mortgage protection insurance and have the ability to obtain quotes from the most suitable insurance companies in a matter of minutes.

To find out how much you could save you on your mortgage protection insurance please complete our quick online quotation form.

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