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Flexible Mortgage protection question

  • 24-03-2023 05:13PM
    #1
    Registered Users, Registered Users 2 Posts: 66 ✭✭


    Hello

    I’m looking for a mortgage protection that can allow me to change the cover amount (reduce it to be specific) in a couple of month. So if the policy was for covering for 100k mortgage, I will pay 50k in lump sum in couple of months and want to reduce the cover amount and dependently the premium


    I searched around and couldn’t exactly find an answer, there is an option called conversion option but that’s if you want to extend the mortgage term or cover (which is not exactly what I’m looking for)


    anyone has a clue?

    Tagged:


Comments

  • Registered Users, Registered Users 2 Posts: 14,574 ✭✭✭✭Geuze


    I've never heard of this feature.

    The cover being higher than the mortgage balance may cost you in premium, but it does provide life cover.



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