Life Cover/Life Assurance for Mortgage

PIMPHO

Hi,



I'm in the process of getting a mortgage with EBS and the life cover they are quoting me is around €75 a month. Is this the normal rate as I think it's a bit steep? Any suggestions of the best priced cover?



Thanks

tHE vAGGABOND

bit steep IMHO..

Im rather quite unhealthy in several ways and Im only going to be paying 55

Zambia

PIMPHO wrote:

Hi,



I'm in the process of getting a mortgage with EBS and the life cover they are quoting me is around €75 a month. Is this the normal rate as I think it's a bit steep? Any suggestions of the best priced cover?



Thanks

F88K me have you cancer ???

I paid about 16 yo yo a month , not down south anymore cant help you sorry but thats to much if yuor a healthy person in the 20's , 30's

PIMPHO

I am a healthy 27 yr old male, non smoker and light drinker. Thought it was a bit steep alright. Any suggestions where I could get a better quote?

tHE vAGGABOND

I went via a broker - and my best quote is with Irish Life..

Zambia

PIMPHO wrote:

I am a healthy 27 yr old male, non smoker and light drinker. Thought it was a bit steep alright. Any suggestions where I could get a better quote?

To beat that try the UVF, cant be worse

or Irish life

BC

It depends on what it includes. Obviously different packages include different things so you would need to compare like packages in order to get an accurante comparison. Obviously it also depends on your age, history & health status so comparing with other people here may not be very useful.

I just have the absolute minimum mortgage protection cover and its costing me about 25 a month.

Victor

How much is the mortgage?

Note the banks are currently looking to get in money any way they can because of the liquidity crunch.

75 euro a month is insane if you don't have any medical conditions.

I'm a 30 yo non-smoker and pay the grand total of 16 euro a month for life cover with Canada Life.

Didn't bother with the serious illness cover as I've no dependents (yet!) and an insurance tied into my job which pays out adequately in the event of serious illness.

wasim21k

well i m paying 78/month, non smoking non drinker, still :mad: eagle start
rang 123 and again eagle star but 211/year:eek: why? how? dont know.
i hate to pay extra and its normal cover and same cover by 123

gibo_ie

Guys, it really depends on how much the mortgage is for, this may be really cheap or really expensive. Check on some websites like www.123.ie or prima finance or hibernian and the like. Dont choose Disability benefit if you can as this ups the price quite a bit (obviously this is just a suggestion to keep the price down - i do not condone ignoring possible future illnesses).

I have three or four life assurance/mortgage protections out at the moment for multiple mortgages and 123.ie has been the winner each time in my own personal case. The bank (AIB) actually told me that they were much higher themselves than the specialist companies.
Good Luck.

trilo

PIMPHO wrote:

Hi,



I'm in the process of getting a mortgage with EBS and the life cover they are quoting me is around €75 a month. Is this the normal rate as I think it's a bit steep? Any suggestions of the best priced cover?



Thanks

We went with EBS for our mortgage and they gave us the quote much the same as what you've been quoted.
This quote is not for basic life assurance, critical illness cover is in it as well, that is why it is so much.

What you should do, i did the following (wrecked my head trying to decide)

1) Read the documents they have given you about this cover.

2) If they have tried to sell you cover for critial illness, read this info and decide whether you need it. Be aware if you do decide to cancel it they will try and make you change your mind, as there getting a nice commission on the sale.

3)If you jsut get basic cover this will be a few yo yo's, which will pay out your mortgage if you die.


I knwo it is all confusing at the moment, it was for me too until i forced myself to get on top of it. The worst thing is making the decision.

Good luck.