Mortgage Protection – Life Insurance – Royal London
Mortgage Protection – life insurance, from Royal London offers the most flexible and comprehensive cover. Extra free policy features include; helping hand, children’s life cover, terminal illness benefit and most importantly the flexibility to increase cover free of health underwriting during certain life events. Return your online application for the first month free!
Complimentary Additional Benefits
Children’s Life Cover
If a child of the lives assured dies during the term of your policy, a sum of €5,000 life cover will be paid out. All of your children between birth to 18 (or 21 if he/she is in full-time education) are covered.
Guaranteed Insurability - Special Life Events
This allows you increase the level of your cover without providing any medical evidence, following any of these events:
- Your mortgage increases, either due to the purchase of a new main residence or the improvement of your main residence
- You get married.
- You have or adopt a child.
The maximum increase you can make following any one of these events is the lower of €100,000 and 50% of the original level of cover for that benefit. This option ends at aged 55 years old, or in the case of dual cover policies when the older person reaches 55 years old.
Terminal Illness Benefit
If you are diagnosed with a terminal illness and have less than 12 months to live, Royal London will pay the full amount of Life Cover as of the date of diagnosis. A terminal illness is an illness where, in the opinion of the attending Consultant and Royal London’s Chief Medical Officer, you will not survive the next 12 months.
Free Dual Protection
For mortgage protection policies where 2 people are involved and where serious illness has not been chosen in addition to the life cover, Royal London allows dual life cover benefits for the same price as their joint life cover benefits.
First Month Free
With a flexible policy start date to suit your needs, this policy comes with the first month free as standard.
This is an automatic additional benefit. You have 100 days to reinstate your policy after your first missed premium payment. Furthermore, it can be reinstated even if a claim has arisen. However, it cannot be reinstated if Royal London has received a written request from you to cancel the policy.
Optional Added Benefit
Serious Illness Cover
If you are diagnosed with one of 84 specified serious illnesses during the term of your policy, a lump sum will be paid out. 52 full payment illnesses and 32 partial payment illnesses are covered.
When you choose to add Serious Illness cover on your policy, your children are covered for up to €25,000 for full payment serious illnesses and up to €7,500 for partial payment illnesses.
Return to the quote result page and download your customer guide for details of all illnesses covered.
Optional Added Feature
By choosing to include a Conversion Option you obtain the option to convert your life cover into another policy, without having to provide fresh evidence of health. This option can then be used at any time during the policy term up to your 70th birthday (or before the 70th birthday of the older life for Dual Life policies)
The main purpose of including this option is to protect you against a change in your future financial circumstances, where you may need to extend your mortgage term to lower your mortgage repayments or move to interest only. But it also allows you to alter your policy, where you may wish to re-mortgage due to home renovations.