Mortgage Protection

All lenders require mortgage borrowers to take out some form of mortgage protection. A Mortgage Protection policy is designed to pay off your mortgage in the event of your death (or serious illness). It is the cheapest form of cover as the sum insured reduces as you pay off your mortgage. So when your mortgage balance is €0, your sum insured has also reduced to €0 because the term of the product is linked to the term of your mortgage.