You have saved and grafted and have finally found your dream home and been approved for a Mortgage, one thing that you may not be aware of is the considerable difference in premiums charged for Mortgage Protection from different life companies. The good news is, you do not have to go with the policy quoted by the Bank who approved your mortgage, you are perfectly entitled to price for Mortgage Protection elsewhere. Here at ACE we have agencies with life companies in Ireland and can provide you with an independent quote for Mortgage Protection. We would be confident that in the vast majority of cases we can provide either cheaper monthly premiums or a better quality mortgage protection policy than any offered by your bank. Other important information on Mortgage Protection policies are:
- A Mortgage Protection policy clears your mortgage if you die before your mortgage is paid-off.
- A Mortgage Protection policy is legally required when taking out a residential mortgage.
- A Mortgage Protection policy is a form of Life Cover – it just clears your mortgage if you die before your mortgage is paid off.
- It is possible to add Specified Serious Illness Cover to a Mortgage Protection policy – this type of policy would pay off your mortgage should you be diagnosed with a Specified Serious Illness within the term of your mortgage. Adding Specified Serious Illness Cover to a Mortgage Protection policy is becoming increasingly popular.
*** Premiums quoted for Mortgage Protection policies vary. It is important to shop around to get the best deal. At ACE Life & Pensions, we can shop around for the best deal on your behalf.
Want more information or speak to our experts about adding mortgage protection to your contract, contact us today by leaving a message for our team, using the below form.