Compare Mortgage Protection Quotes

Mortgage Protection Quotes Ireland

    Compare mortgage protection quotes from all of the leading mortgage protection providers in Ireland. Our on-line mortgage protection quote comparison calculator provides the cheapest instant mortgage protection insurance quotes in Ireland, offering dual coverage for the same price as joint, plus the first month free! You can also quote the cost of including a Conversion Option, for additional long term health and financial protection on your mortgage!

Mortgage Protection Quotes

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Compare mortgage protection quotes with Ireland's most comprehensive mortgage protection comparison calculator.

Our free mortgage protection insurance quotes comparison service lets you easily compare quotes from all of Ireland’s leading insurers, including; Aviva, Irish Life, New Ireland, Royal London, and Zurich Life.

So, no matter whether you’d like single, joint or dual cover policy or a policy with added serious illness cover or conversion flexibility, we’ll search the market to produce your cheapest and most suited policy quote in just seconds!

All quotes come with the first month free plus discount of up to 25% for huge long term savings!

It’s easy to use, 100% impartial and accurate.

Mortgage Protection Insurance Quotes – Frequently Asked Questions

What is Mortgage Protection?

Mortgage protection is a form of life insurance that will pay off your mortgage in the event of your death before your mortgage is fully repaid. If you are looking to take out a mortgage, you will need a mortgage protection policy in place before you can draw down the mortgage loan. It is compulsory for all residential mortgage holders in Ireland to take out mortgage protection to protect both themselves and their mortgage lender.

Why do I need mortgage protection insurance?

Mortgage lenders require that you take out mortgage protection or life insurance before they’ll allow you to draw down a mortgage. This is because they want assurance that the loan will be fully paid off in the unlikely event of your death during the term of the mortgage. They do this by getting you to take out life cover to match your mortgage loan term and mortgage loan amount and then getting you to assign the policy over to them.

How do I complete my mortgage protection bank assignment process?

The deed of assignment is a legal document that the bank sends out as part of the legal pack. Once you have got your insurance policy documents from us you can complete it and then follow the process below to have your lenders interest noted on your mortgage protection policy.

Your mortgage lender (bank) will need to receive (1) your mortgage protection insurance policy schedule and (2) your completed deed of assignment from you. Once they are returned to them, they need simply contact the insurance company to have their interest noted. Then once the bank has confirmation of the assignment, they will issue your mortgage cheque.

Our job as the insurance broker is to provide your insurance policy schedule, it is your banks’ job to supply you with your deed of assignment and for you to complete and return it to your bank.

It is then your banks’ job to contact the insurer to note their interest. The normal, helpful lenders will help you and send the notice of assignment to your insurer. However, there is one exception namely Ulster Bank.

Ulster Bank won’t do this for you, they make you do it for them. So, if you’re with Ulster Bank, you’ll have to send the notice of assignment to the insurer. If we arrange your policy, don’t worry we will assist you with how to do this!

How do I apply for mortgage protection insurance?

Run your quote and return the application form, which is automatically emailed to you, to [email protected] Alternatively, call us on 01 845 0049 to apply by phone.

What is joint life mortgage protection?

This is an insurance policy that can be taken out to cover a couple or 2 individuals. In the unfortunate event that one individual dies, the insurance company will pay off the balance outstanding on your mortgage and the policy ends.

What is dual life mortgage protection?

Dual Life mortgage covers 2 people but pays out separately on each. So, if a death claim occurs the mortgage gets paid off, but the policy can still be maintained on the second person. In the tragic event that both people died together, the policy would be payout double the life cover level.

What’s the difference between mortgage protection and life insurance?

Life insurance pays out a lump sum should you die during the term of the policy. This sum remains constant and with indexation can increase each year to help keep up with inflation.

With mortgage protection, the lump sum decreases each year to broadly match the outstanding balance on your mortgage. This means it tends to be cheaper than life insurance.

What happens if I decide to switch mortgage provider?

If you decide to switch mortgage provider you don’t need to take out a new policy. You can simply reassign your existing policy to your new lender. Your premium and level of cover will remain the exact same as long as the amount you borrow and the term of your mortgage hasn’t changed.

Should I add Serious Illness Cover to my quote?

The answer is that’s up to you as your mortgage lender can only insist on a policy with life cover, but we would recommend considering this additional protection if affordable and especially if you don’t have any other Serious Illness cover already in place.

What if I want to alter my mortgage down the line?

All of the mortgage protection policies we quote offer “guaranteed insurability” to allow you make changes to your policy inline with increased borrowing and without the need to complete a fresh mortgage protection application form. However, this does not allow you to extend the term and restricts you to a maximum of your original loan amount.

If you want to future proof your cover against a change in health, term and cover the best thing to do is to add a “Conversion Option”.

What is a Conversion Option?

A Conversion Option allows you to later extend your policy cover term and to increase your “life cover” within the policies guaranteed insurabilty limits. It also allows you to convert from a reducing cover Mortgage Protection policy to a level term Life Insurance policy if you fall seriously ill with the option to extend your cover term in addition.

Any changes made through a conversion option are free from fresh evidence of health, so it protects you against a decline in your health affecting your long term costs no matter how your mortgage needs may change into the future.

Is it not easier to use my bank to provide my mortgage protection?

Most people now realise that they can save a lot of money by not choosing their bank’s mortgage protection policy and that taking out insurance through the bank is not a condition of the loan. But, some people still think that it might be faster or easier to accept their bank’s mortgage protection quote and go with their recommended insurer.

The fact is, however, choosing an online broker is the fastest way of quoting, applying for and receiving your mortgage protection insurance policy and this is on top of making substantial cost savings to boot!

Why choose onequote.ie to compare mortgage protection quotes?

It’s easy to compare the cheapest mortgage protection quotes online with OneQuote.ie, but we offer you a whole lot more:
 

  • The best policy benefits aligned to the cheapest fixed price!
  • A quote price freeze, right up to your next birthday!
  • Dual life benefits (Double Cover) for the same price as joint-life!
  • The first month free, regardless of your policy start date!
  • Free impartial no obligation advice!
  • Complete online convenience!
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