Low-Cost Mortgage Protection Quotes

Low-Cost Mortgage Protection Quotes. This tool is designed to provide an estimate of the monthly cost of your Mortgage Protection, based on the cover you select. This does not constitute financial advice. You should assess the level of cover appropriate for your specific circumstances with a Financial Advisor. The rate of decrease of mortgage protection cover is assumed to be 6%. When a second person is added, Joint Life Basis is assumed. We compare quotes from all 5 of Ireland's insurers to get you Low-Cost Mortgage Protection.

We provide quotes for low-cost mortgage protection by applying price matches and special broker discounts. We also offer One Month's Free Cover, quick turnaround and a personal service.

Low-cost Mortgage Protection Quotes. 

What is mortgage Protection?

Mortgage Protection is simply a form of life insurance linked to your mortgage. It’s specifically designed to help pay the outstanding balance of your mortgage if the worst were to happen to you. This gives your family the security of knowing their home is safe at a difficult time. We provide quotes for low-cost mortgage protection by applying price matches and special broker discounts.

As long as you have enough cover in place, the plan will help to automatically pay off your mortgage if you die during the term of the plan. Your mortgage protection plan is a type of decreasing life insurance. This means the amount it pays out reduces every month as your mortgage decreases. Because of that, you only pay for the cover you need. And if you arrange a joint mortgage, the plan can cover both people.

Anyone taking out a mortgage is obliged to have mortgage protection in place. Many people take up a policy with their mortgage provider, but it’s a good idea to shop around for the plan that suits you best. We can help you with this decision.

How does Mortgage Protection work?

When you take out a mortgage, your provider will insist you have enough cover in place to repay it if you die within the term of your mortgage. This is a basic type of life insurance cover. However, to give you further protection, you can combine your life cover plan with serious illness cover. This gives you protection for a number of serious illnesses. 

When you take out a Mortgage Protection plan, you’ll pay a premium each month for the length of your mortgage term. Your mortgage protection plan helps pays off your mortgage if you die before the end of the term. As it’s designed to work with your mortgage, the amount of cover reduces over time as you pay off your mortgage.
As you would expect, because your cover decreases over the term, this type of life insurance is usually cheaper than cover which stays at the full amount throughout the term of the policy.

The cost of your Mortgage Protection cover will depend on:

  • the size of your mortgage - this determines the amount of cover you need

  • whether you add specified illness cover

  • the length of your mortgage – this determines the term of your plan

  • your age • whether you are a smoker or nonsmoker

  • your current state of health

  • whether you take out the plan by yourself or jointly with your partner

Use Income Protection to protect your mortgage

If you're self-employed it may be a good idea to consider putting income protection in place specifically to cover your monthly mortgage loan repayments. Income Protection insurance will cover up to 75% of your income if you are unable to work due to an accident or illness. 

Learn more

Consider adding Serious Illness Cover

Serious Illness cover provides a lump sum cash payment which enables you to take care of yourself and your family if you’re diagnosed with one of the conditions we cover. Being diagnosed and suffering from a serious illness can be emotionally and physically draining.

It can disrupt your ability to earn a living or care properly for yourself and your family. You may need to adapt your home or even move house.

Serious Illness cover offers you protection from the financial impact a specified illness may bring. Specified illness under this contract can be selected only on an accelerated basis (where the life cover is reduced by the amount of any specified illness claim), and the specified illness benefit must be the same or less than the amount of the life cover.

If you are diagnosed as suffering from one of the listed specified illnesses, you will receive the benefit as tax free cash. Whether you make a speedy recovery or you have to cope with spells in hospital, operations, debilitating treatments or a lengthy recuperation, specified illness cover can provide a one-off lump sum to help you through.

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