Mortgage Protection
Your home is your haven and you have to protect it. Mortgage protection is a dedicated type of life insurance. It helps secure the ownership of your home by helping to clear your outstanding mortgage if you die, or if selected, if you are diagnosed with a specified serious illness, within a specified term.
Mortgage Protection Insurance: Securing Your Home and Peace of Mind
Mortgage protection insurance is a vital safety net for homeowners in Ireland. It ensures that, in the event of your death, your outstanding mortgage is paid off, preventing financial strain on your loved ones. This coverage offers reassurance that your family can maintain their home without the burden of mortgage repayments.
Affordable and Tailored Coverage
Mortgage protection policies are generally affordable and can be tailored to suit your specific needs. Factors such as age, health, and the amount and term of the mortgage influence the premium. Consulting with Quigley Financial Brokers can help you find the most suitable and cost-effective policy for your circumstances.
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Mandatory for Mortgage Approval
In Ireland, lenders typically require borrowers to have mortgage protection insurance as a condition for mortgage approval. This requirement ensures that the loan will be repaid even if the borrower dies before the mortgage is fully paid off, reducing risk for both the lender and the borrower's family.
Ensures Your Mortgage is Paid Off
In the unfortunate event of your passing, mortgage protection insurance automatically pays off the remaining balance of your mortgage. This means your family won't have to worry about meeting monthly repayments during a difficult time, securing their home and financial stability.