Mortgage protection Insurance now available on both lives
Double Payout Mortgage Protection
Mortgage protection insurance is the most popular form of Life Insurance in Ireland. The principal reason is that these policies are required by law to be set up when taking out a mortgage, under the age of 50.
For many house owners, mortgage protection insurance is the only life cover they have in place and assuming the policy is kept up to date, the mortgage will be cleared on the death of the policy holder, or on first death in the case of a joint application.
In the event of a first death in a joint policy, very often the surviving spouse has no other life insurance. The Royal London Initiative allows the mortgage protection policy to continue providing a level of comfort to the survivor with little fuss and no medical requirements as the existing policy continues in force if the payments are maintained up to date.