Life Insurance

Hi,

I'm just in the middle of getting a new mortgage and have to get Life Insurance to cover the mortgage which I assume means I have to get life insurance to the value of 335K which is the mortgage amount. The bank has offered to organise but I just want to ensure I'm not getting ripped off.

What are the best deals out there:-
1. Cheapest one that terminates when the mortgage ends.
2. Cheapest that pays out something when the mortgage ends.

Any advice or re-direction to another website/thread if covered already would be appreciated.

Thanks,
James

Have a look at www.labrokers.ie

Avoid hybrid "whole-life" policies that claim to offer protection and savings in the one package - in over eighteen years working in the financial services industry, I've never seen one that did so efficiently. Buy a protection policy and if you have additional disposable cash every month, save it seperately.

Have just been thru this process. Got a quote off the Bank for straight mortgage protection (no savings element etc.) which I thought was very dear. Tried a Broker who supplied 3 different quotes from different companies. The cheapest was 25% cheaper than the bank! Perhaps not all bank policies are the same but proves the worth of shopping around.

All,

thanks for the info - checked a few websites (LAbrokers / 123) and there seems to be good 1st year offers out there giving you 6mths free. Is there a penalty if you leave in the first year or it is easy to jump from company to company each year?

James