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Life insurance and mortgage protection average cost

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  • 09-02-2019 11:14am
    #1
    Jack_92
    Registered Users Posts: 41 ✭


    Hi all!

    I know it depends on health conditions/ mortgage term/ age/ whether smokers or not etc but I was wondering how much on average do you pay for life insurance and mortgage protection?

    Thanks


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    #2
    jlm29
    Registered Users Posts: 3,818 ✭✭✭jlm29


    Jack_92 wrote: »
    Hi all!

    I know it depends on health conditions/ mortgage term/ age/ whether smokers or not etc but I was wondering how much on average do you pay for life insurance and mortgage protection?

    Thanks

    I pay €10/mths for mortgage protection, and €19/mth for life insurance


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    #3
    punisher5112
    Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    Jack_92 wrote: »
    Hi all!

    I know it depends on health conditions/ mortgage term/ age/ whether smokers or not etc but I was wondering how much on average do you pay for life insurance and mortgage protection?

    Thanks

    Because of my BMI the amount went up over 225%

    I was quoted 1st €25 but that went up to €49 a month.

    House insurance is a must too so got that for €294 through JLT brokers in cherrywood


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    #4
    s7ryf3925pivug
    Closed Accounts Posts: 4,007 ✭✭✭s7ryf3925pivug


    38 pm on 175k for me and my wife. Would be about 25 before loading for a medical condition. Took months to sort out. Painful experience.


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    #5
    screamer
    Registered Users Posts: 6,134 ✭✭✭screamer


    Life insurance is actually cheap enough. It’s when you add for critical illnesses that it sky rockets


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    #6
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,868 Mod ✭✭✭✭L1011


    This is entirely dependent on age, health and the value of the loan - there is no "average" as all three vary

    I pay 9.90 a month for mortgage protection, which is about as low as you can possibly go as most insurers have a minimum premium. This is with a minor chronic condition that they decided didn't even need a doctors form let alone a medical.


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    #7
    micar
    Registered Users Posts: 1,877 ✭✭✭micar


    screamer wrote: »
    Life insurance is actually cheap enough. It’s when you add for critical illnesses that it sky rockets

    Yep....critical illness is twice the cost of life cover.


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    #8
    masterboy123
    Registered Users Posts: 5,723 ✭✭✭masterboy123


    Do we need both life insurance and mortgage protection?

    I thought house insurance and mortgage protection is all we need.


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    #9
    punisher5112
    Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    masterboy123 wrote: »
    Do we need both life insurance and mortgage protection?

    I thought house insurance and mortgage protection is all we need.

    Mortgage protection and house insurance is it....


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    #10
    jlm29
    Registered Users Posts: 3,818 ✭✭✭jlm29


    masterboy123 wrote: »
    Do we need both life insurance and mortgage protection?

    I thought house insurance and mortgage protection is all we need.

    I suppose it depends on your circumstances. You’re not obliged to have life insurance. But I’ve enough kids that if anything happened to me and the OH, I’d need some sort of carrot to dangle at someone to take them on!


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    #11
    masterboy123
    Registered Users Posts: 5,723 ✭✭✭masterboy123


    Ok, that's clear now.
    jlm29 wrote: »
    I suppose it depends on your circumstances. You’re not obliged to have life insurance. But I’ve enough kids that if anything happened to me and the OH, I’d need some sort of carrot to dangle at someone to take them on!


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