Quotes provided by JSBCA Ltd. JSBCA Ltd t/a Low is Regulated by the Central Bank of Ireland.
Mortgage protection is compulsory for mortgage holders in Ireland,
but many people are paying more than they have to.
Our mortgage protection comparison service lets you easily compare prices from Ireland’s main insurance providers and is free, easy-to-use, 100% impartial and accurate.
Whether you’d like a single policy, a joint policy or a policy with serious illness cover, we’ll search a wide range of policies across multiple insurers and produce a quote for you in just seconds.
So if the thought of having to shop around for the best-value cover is enough to make your head spin, rest easy. bonkers.ie takes care of the hard work for you.
Mortgage protection is a form of life insurance which pays off the outstanding balance on your mortgage should you die before the mortgage is fully repaid. It is compulsory for all mortgage holders in Ireland.
The cost of mortgage protection will depend on several factors such as the size of your mortgage, your age and health status, and whether you want single life or joint life cover. Smokers will also pay more for cover than non smokers. Use our mortgage protection comparison service to find out the price of cover for you.
Mortgage lenders require that you take out mortgage protection or life insurance before they’ll allow you to draw down a mortgage. This is because they want assurance that the loan will be paid off in the unlikely event of your death during the term of the mortgage.
Life insurance pays out a lump sum should you die during the term of the policy. This sum remains constant and can even increase each year to help keep up with inflation. With mortgage protection, the lump sum decreases each year to broadly match the outstanding balance on your mortgage. This means it tends to be cheaper than life insurance.
Joint life cover insures two people under the one policy but a claim is paid out on the first death only. The policy ends when the first person dies.
Dual life cover also insures two people but a claim can be paid out on both deaths. For this reason dual life cover is more expensive than joint life cover. If one person dies, a claim is paid out and the policy continues in the name of the survivor.
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