Life Insurance - standard v index linked & conversion option?

J

JL77

Registered User
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In the process of getting mortgage done and dusted. Was looking at Life insurance today - can someone explain (or give me links) the terms - index linked and conversion option.

I was shown two packages - one was 19 euros the other was 29 euros (index linked + conversion option). Is there an advantage in spending the extra 10 euros?
 
option 1:
life assurance reduces roughly in line with mortgage,
Cheapest

option 2:
life assurance stays level throughout,
(don't see the point, if you only want to cover mort, if you want extra, get it when you need it)

option 3:
indexation,
cover increases annually by X % something around inflation. (note: your payments go up too)

option 4:
conversion option.
they're saying when the term is up, you can take another policy, and they'll quote you as if you're healthy, even if you've become sick.


check for a quick quote, although do shop around.
no connection.

go into mortgage protection section, select cover, term, age, smoker, then next page click mort policy.
 
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