Mortgage Protection
Mortgage protection built around you — not your bank
Mortgage protection clears the balance left on your home loan if you die during the mortgage term. We arrange it across the whole market so you get the right cover at the right price — and a policy that belongs to you, not your lender.
Last reviewed by Debbie Cheevers, QFA, RPA · 30 June 2026
Who needs mortgage protection?
First-time buyers
Drawing down a mortgage on your first home? Lenders will require cover in place before they release the funds.
Switchers & remortgagers
Switching lender or releasing equity is the perfect moment to re-price your cover and often save money.
Anyone with a mortgage
Already paying for cover taken out years ago? You may be paying more than you need to for the same protection.
What is mortgage protection?
Cover that clears your mortgage
Mortgage protection is a type of life insurance designed to pay off the outstanding balance on your home loan if you die during the mortgage term.
The amount of cover falls in line with your mortgage as you pay it down, which keeps it one of the cheapest types of life cover you can buy.
Why it’s required in Ireland
Under the Consumer Credit Act 1995, most owner-occupier borrowers must hold mortgage protection until the loan is fully repaid.
There are some exemptions — for example if you’re over 50, already hold suitable life cover, or can’t get cover for health reasons. We’ll tell you quickly where you stand.
Buying through a broker vs your bank
| Buying from your lender | Through Greenway | |
|---|---|---|
| Who owns the policy | The lender — a group policy | You — your own individual policy |
| Choice of insurer | Usually one tied insurer | Whole-of-market — six leading Irish insurers |
| Pricing | Often higher, take-it-or-leave-it | We compare the market to find your best price |
| Advice | Sales-led | Fair analysis, plain-English advice |
| If you switch lender | You may have to start again | Your policy stays with you |
A policy arranged through Greenway belongs to you and moves with you, whatever happens to your mortgage.
Why choose Greenway
We work for you
We act for you, not the lender — our job is to find the cover that suits your life, not sell one product.
Whole-of-market pricing
We quote across the leading Irish insurers so you’re not stuck with a single price from your bank.
Multi-agency agreements
Agreements with all the main providers mean genuine choice and a recommendation you can trust.
Quick turnaround
Straightforward cases can be arranged fast, so your mortgage drawdown isn’t held up.
How we set up your cover
- 1
Free consultation
A quick call to understand your mortgage, your health and what you need to cover.
- 2
Whole-of-market quote
We compare the leading insurers and recommend the right policy and price for you.
- 3
Apply & underwrite
We handle the paperwork and medical declarations and chase the insurer so cover starts quickly.
- 4
Policy in place
Your cover is set up and assigned where needed, ready for your mortgage drawdown.
Frequently asked questions
Is mortgage protection compulsory in Ireland?
For most owner-occupier mortgages, yes — under the Consumer Credit Act 1995 you must hold cover until the loan is repaid. There are exemptions, such as being over 50, already holding suitable life cover, or being unable to get cover for health reasons. We’ll confirm quickly whether one applies to you.
Why get mortgage protection from a broker?
A broker compares the whole market for you and arranges a policy that belongs to you — not your lender. Group policies offered by a bank are owned by the bank and tied to one insurer, which can mean less choice and a higher premium.
What fees do you charge?
None. We don’t charge a fee for arranging your policy. We’re paid a commission by the insurer, and that never influences the advice we give you.
Are there alternatives to taking out a new policy?
Sometimes. An existing life insurance policy can occasionally be assigned to cover the mortgage, or in certain cases the bank may not require a separate policy. Talk to us and we’ll tell you if an exemption applies.
Am I too old to switch my mortgage protection?
Not necessarily. Even if you took out cover years ago, it can be worth shopping around — though premiums rise with age and health can change, so it’s best to keep your existing policy in force until any new cover is confirmed. We’ll check whether switching leaves you better off.
We work with Ireland’s leading life & pension companies
Ian was so helpful with the information I needed to put me on the right track — sent everything by email afterwards so it was easy to understand. Highly recommend.
Sort your mortgage protection the smart way
Talk to a Greenway adviser, compare the whole market, and get a policy that’s yours. The first consultation is free and there’s no obligation.
Last reviewed by Debbie Cheevers, QFA, RPA, 30 June 2026. Information is general and not personalised financial advice.