Mortgage Protection; Where to look for the best option?

[jwof2006]

Hi all,

Just in the process of finalising a mortgage with PTSB and looking to arrange mortgage protection. I have a Zoom meeting with the broker about it next week.

Do the brokers have access to the best deals? I am looking for the most basic cover possible.

Thanks a mill,
Jack

 

[Protocol]

Start by getting a quote from www.labrokers.ie

 

[Marobar1]

I've tried loads of them over the years but BeatTheBank.ie have been the most efficient and cheapest in my experience.

 

[michaelm]

I would avoid a policy through the bank as they are probably tied agents and the policy may be a block policy which could be tricky to port to a different lender. I've had a number of policies through www.labrokers.ie in the past - wow, the last one was 10 years ago - and they were very efficient.

If it's a joint mortgage I'd be looking at a dual life, convertible, non-indexed, term policy comfortably in excess of the mortgage amount and length, rather than reducing cover mortgage policy. This would act as (additional?) life cover and tick the mortgage protection box for the bank but could also be easily assigned to another lender should you switch and/or applied to an increased mortgage you might take out in the future.

 

[Blackrock1]

I would avoid a policy through the bank as they are probably tied agents and the policy may be a block policy which could be tricky to port to a different lender. I've had a number of policies through www.labrokers.ie in the past - wow, the last one was 10 years ago - and they were very efficient.

If it's a joint mortgage I'd be looking at a dual life, convertible, non-indexed, term policy comfortably in excess of the mortgage amount, rather than reducing cover mortgage policy. This would act as (additional?) life cover and tick the mortgage protection box for the bank but could also be easily assigned to another lender should you switch and/or applied to an increased mortgage you might take out in the future.

this is very good advice re the life policy.