If you are taking out a mortgage, the lender will usually insist that you have sufficient Life Cover in place to clear the mortgage in full should any borrower die throughout the term of the loan. This is typically called Mortgage Protection Cover.
The principle of a mortgage protection plan is to provide the borrowers with the security and peace of mind that their family home is protected, and they will have the ability to pay off their mortgage in the unfortunate event of an untimely death. In addition to life cover, borrowers can also include cover that pays a lump sum in event of a ‘Specified Illness’ or cover that pays a ‘Regular Income’ should a borrower be out of work long term through sickness, illness or accident.
In Ireland regardless of who the lender is, the borrowers are free to effect their mortgage protection policy through any Life Assurance provider. The plans on offer from each provider vary significantly in price and benefits and this is where Mason Wealth Management can help. We will assess your needs and any existing cover, shop the market and arrange the best possible Mortgage Protection plan for you at the best possible price.
Call us. Ask us about Mortgage Protection Plans and see for yourself.
We’ll give you impartial advice because we’re not tied to one investment house, bank or insurance company.
Our senior consultants have decades of experience in all types of financial planning and financial management that delivers great results for our clients.
We take a holistic view, bringing greater choice and more products to the table, from several sources for maximum flexibility. We’ll then stay with you, advising and guiding you towards your financial goals.
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