Online Mortgage Protection Application

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Most of us are by now aware of online mortgage protection and the fact that you are fully entitled to shop around, but once you have found your best price policy, how does the online mortgage protection application process work?

Online Mortgage Protection Application – Submission

To apply for mortgage protection insurance that the banks require before allowing cheque drawdown, you must complete the insurance company’s mortgage protection application form. The form will require your personal details, and the cover details and ask a lot of health and lifestyle-related questions.

Completing your application form online or via email is easy and the use of digital signatures is now fully accepted by all 6 mortgage protection providers (insurance companies) currently on the Irish market.

Application – Underwriting

Once you have completed and returned your application form, it is sent to the life insurance companies’ underwriters who then decide if they need any other information based on age, health, lifestyle, and the amount of coverage. Only once underwriting is complete are your policy documents ready to be sent out to you, but typically if you have no underlying health issues this is completed within 24 hours.

Application – Document Receipt

Once underwriting is complete you will need to confirm your required policy start and if not already done so, complete the life insurance company’s direct debit mandate. Your policy documents can then be requested via email allowing you to print the originals or simply email them to your mortgage lender.

Application – Bank Assignment

Your bank will provide you with its own legal document called a notice of assignment, this transfers the ownership of the policy to them during your mortgage loan term. You will need to complete this once you have received your policy documents and return them to your bank. They will then complete the assignment process on their end unless you’re dealing with Ulster Bank in which case we will help you arrange your assignment.

More Information & Quotes

For more information email: or call: 01 845 0049. To run your best value mortgage protection quotes – Get Quote!

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