Mortgage Protection

Mortgage Protection – Essential For Home-owners

Mortgage protection cover

is designed solely to ensure that your mortgage is paid off in the event of your death. It runs for the same term as the mortgage itself, and the cost of it decreases as the amount owed on your mortgage reduces.
When you

take out a mortgage

, your lender will insist on your having

mortgage protection insurance

– this is to safeguard the loan. Your estate will benefit from any additional funds left in the policy after the mortgage is paid.
It is important to point out here that you are under no obligation to take out a

mortgage protection policy

with that lender. The ‘shop around’ rule very much applies! You can also switch mortgage protection insurance provider to get a better deal.
So with mortgage protection insurance, you don’t need to worry about your loved ones having to repay your mortgage in the event of your death, but what about the scenario where you can’t repay your mortgage because you become so ill that you can’t earn an income?
You can add

serious illness cover to your mortgage protection policy

. This will give you a cash lump sum should you be diagnosed with a specified serious illness. That way, you have a buffer to pay bills such as your mortgage even though you can’t work because of your illness. For more on serious illness cover (also known as critical illness cover or specified illness cover), go here.
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One of our qualified advisors would be happy to help you work out how much cover you need to protect your family. Call us today on 057 93 50079.
Warning: If you do not keep up your repayments you may lose your home.

Everybody’s different, but everybody’s vulnerable

At Clever Money, we believe in meeting our customers face to face. Our qualified financial advisers take the time to get to know your circumstances so that they can offer tailored advice. You won’t get that from an online-only insurer.
We are authorised by the Central Bank of Ireland as an authorised adviser, which means we can offer you products from all the leading life companies. For you, that means we can guarantee you the lowest premium.
If you’ve been thinking that your family would be vulnerable should something happen to you, our financial advisers would be happy to advise you based on your own circumstances.

Give us a call today on 057 93 50079