Royal London – Mortgage Protection Insurance
Royal London – Mortgage Protection allows policy holders to avail of a complimentary service known as “Helping Hand” which provides one to one support from an independent nurse advisor, in the event of bereavement, or serious illness where applicable. Choosing to add serious illness to your mortgage protection cover also means free children’s serious illness cover applies. The first month is also free on all standard health accepted applications.
Free Children’s Cover
In the awful event, that child of yours dies during the term of your policy, a sum of €5,000 will be paid out. All of your children between from birth to 18 (or 21 if he/she is in full-time education) are covered during the term of the policy.
If you chosse to add serious illness cover on you policy, children are cover for up to €25,000 for full payment illnesses and up to €7,500 for partial payment illnesses.
With this, you can 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 joint 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.
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.