Mortgage Protection Recommendation

Mortgage Protection - Royal London

Mortgage Protection Insurance - from Royal London Ireland offers the most flexible, comprehensive and best value cover, which includes the first month free.

Complimentary added benefits include, Helping Hand Services, Instant Advance Life Cover, Free Children’s Life Cover, Terminal Illness Benefit, Advance Funeral Payout, dual cover payout, Missed Premium Reinstatement, and Guaranteed Insurability.

The option is also there to add a Conversion Option, meaning extra policy future proofing, as well as optional Specified Serious Illness Cover.

Mortgage Protection

Complimentary Additional Benefits

Helping Hand is available to use from the day your policy starts – not just when making a claim. It doesn’t cost anything extra to use and your partner and children can use it too.

Some of the ways in which Helping Hand could benefit you:

  • face-to-face second medical opinion
  • speech and language therapists
  • oncology nurses
  • physiotherapy
  • cardiac rehabilitation support
  • complementary therapies
  • massage and reflexology
  • the provision of bereavement counsellors

Royal London Ireland is owned by The Royal London Mutual Insurance Society Limited – the largest mutual life insurer in the UK and in Ireland in 2021 they paid put over 43 million in Claims.

Instant TLC is a unique service that provides temporary Life Cover for up to four weeks during the application and underwriting process.

So, for no extra cost, you’re protected even before your policy officially starts.

You can get Instant TLC for the sum assured applied for, up to a maximum of €500,000 across all
applications. It’s available on all new applications for Life Cover for customers aged 60 or below.

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.

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.
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.

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.

Royal London will pay an advance payment of the cover in place, up to the value of €10,000, to cover Funeral Director Costs.

This payment can be made to the Funeral Director directly or to the Executor(s) of the estate.

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. 

With a flexible policy start date to suit your needs, this policy comes with the first month free as standard.

Optional Added Benefit

If you are diagnosed with one of 100 specified serious illnesses during the term of your policy, a lump sum will be paid out. 60 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.

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