Mortgage Protection

Mortgage Protection - New Ireland

Mortgage Protection – from New Ireland, will pay out a lump sum on death to your mortgage lender.

The policy gives you good value mortgage protection, with the flexibility to change your cover as well as the policy term as your needs change.

Mortgage Protection

Complimentary Additional Benefits

If a child of the lives assured dies during the term of your policy, a sum of €4,000 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.

  • If under 55, we will pay an amount if you die in an accident while waiting for your application to be assessed and accepted up to a 30 day period.

Increase your cover amount within 3 months of moving house, getting married or having or adopting a child without having to provide evidence.

If you are diagnosed with a terminal illness and have less than 12 months to live, New Ireland 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 New Ireland’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, New Ireland allows dual life cover benefits for the same price as their joint life cover benefits.

This is an automatic additional benefit. You have 30 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 New Ireland has received a written request from you to cancel the policy.

Optional Added Benefit

If you are diagnosed with one of 91 specified serious illnesses during the term of your policy, a lump sum will be paid out. 55 full payment illnesses and 36 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 64th birthday (or before the 64th 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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