cavanlad1982
Registered User
- Messages
- 34
The Consumer Credit Act requires that owner occupier mortgage holders have mortgage protection life assurance. This requirement can be waived in some circumstances (e.g. if somebody can't get any or "reasonable" cover due to medical issues) and some lenders may do this. Note that there is a risk with not having such insurance - e.g. if the mortgage holder dies then any next of kin do not have the mortgage cleared for them and must meet the repayments somehow. See this thread and the many others on the same topic:cavanlad1982 said:Do I need it for a mortgage?
cavanlad1982 said:...My question - I can take out the converible term assurance policy now to say cover me for 300,000. Even if my health deteriorates, then I can still continue the policy at the fixed price? Can anybody recommend a good life assurance company in this case? Is this the best way to proceed?....
liteweight said:Haemochromotosis is a genetic disorder where too much iron builds in the blood. The treatment is quick, easy (relatively) and very succesful if caught while young. In older people it may have caused organ damage. Ireland has the highest incidence of haemochromotosis in the world and its a disgrace that there is no national screening policy. It's a matter of a simple blood test.
Given the above, I can't see why insurance companies should penalise sufferers, it's just ignorance. A good many peoply may be walking around with the disorder, who are happily paying mortgage protection/life insurance at an equitable rate simply because they and their insurance companies don't realise they have it.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?