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Mortgage insurance

  • 15-07-2014 7:02pm
    #1
    grumpydwarf
    Registered Users, Registered Users 2 Posts: 27 ✭


    We have a mortgage approved for €170,000 and looking at mortgage insurance as part of our budget planning.

    Male 33 20,000pa good general health but has psoriasis and taking methotrexate
    Female 34 32,000pa has good general health but recently had a fall with cartledge damage on knee and soft tissue strain on thumb and wrist

    Will these impact on the insurance premium? We are hoping for decreasing to cover the mortgage plus €100,000 lump sum in event of death


Comments

  • #2
    tinkerbell
    Registered Users, Registered Users 2 Posts: 6,423 ✭✭✭tinkerbell


    Go to a mortgage broker.


  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,622 ✭✭✭✭coylemj


    tinkerbell wrote: »
    Go to a mortgage broker.

    They already have a mortgage and if they go to an insurance broker the likelihood is that they will get the hard sell for critical illness insurance as the commission on a basic mortgage protection policy (MPP) is tiny given the competition and the fact that you can get quotes online.

    OP, all of the life companies will quote you online for mortgage protection, you need to check out the quotes, see which is cheapest and then contact them with a description of your 'illnesses' though none of them are likely to impact on a life quote because from the sound of it they are not likely to shorten either of your lives.

    I don't know if there is such a thing as an MPP policy which delivers a set lump sum on top of paying off the loan.


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