Benefits Of Mortgage Income Protector

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Contact us today and book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information.

What is Mortgage Protection?

When you take out a mortgage, your lender will request you also take out a mortgage protection policy. It is designed to help pay any outstanding mortgage balance in the event of serious illness or injury.

Here are some of the benefits;

1. Helps You Keep Your Home

• If you are unable to work due to illness or injury, the policy pays a monthly income to help cover your mortgage repayments.

• Protects your home from the risk of repossession during a period of lost income.

  
  

 2. Regular Monthly Benefit

• You receive a tax-free monthly payment (usually up to a set percentage of your income).

• This allows you to keep up with mortgage and household bills while you’re out of work.

3. Flexible Payment Periods

• You can choose how long the benefit is paid (e.g. up to 12, 24, or 60 months).

• The longer the payment period, the more comprehensive the cover — but premiums may be higher.

4. Choice of Deferred Period

• You can select a waiting period (e.g. 4, 8, or 13 weeks) before payments begin.

• Shorter deferred periods mean quicker payouts but can cost more.

5. Income Protection Lite

• It is a more affordable alternative to full income protection policies.

• Designed specifically to target mortgage costs, keeping premiums manageable.

6. Flexibility to Update Cover

• You can often increase or adjust the cover if your mortgage changes (e.g. remortgage, move house).

• Ensures your policy stays aligned with your financial situation.

  
  

 7. Peace of Mind

• Reduces financial stress if you are unable to work.

• Gives you and your family security and stability during illness or recovery.

Summary:

Mortgage Income Protector helps cover your monthly mortgage if illness or injury stops you from working - helping protect your home and giving you financial breathing space.

Contact us today and book your consultation and see how Quigley Financial Brokers can help you choose the best options available.