6 things to consider when buying mortgage protection insurance

Mortgage protection insurance is often one of the last things mortgage seekers think about when applying for a mortgage, but there's more to it than just price.

Mortgage protection is a form of life insurance. It pays off the outstanding balance on your mortgage should one of you pass away before it's fully repaid.

Using an insurance broker like bonkers.ie can be one of the easiest ways to compare mortgage protection cover across multiple insurers in order to get the best value.

Including serious illness cover as an additional level of protection will ensure a tax-free lump sum is paid out if you are diagnosed with a specified serious illness.

If you’re in general good health it’s possible to get cover in under one hour with bonkers.ie as all we need is a digital signature to get your policy in place.

Your insurer guarantees you the right to purchase additional cover in the future without having to undergo a new medical exam.

If you're unable to work due to illness or disability, some insurers will pay your mortgage protection premiums for you until you get better and can work again.

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