Mortgage Protection · New Ireland
New Ireland Mortgage Protection in Ireland
New Ireland is one of the providers we can compare for your mortgage protection. Its Life Choice Home plan lets you change your cover amount and term as your circumstances change, and its conversion option protects your ability to extend your cover later if your health changes. Below is what New Ireland says about its plan.
Last reviewed by Debbie Cheevers, QFA, RPA · 22 October 2026
What New Ireland mortgage protection includes
New Ireland mortgage protection, called Life Choice Home, pays a lump sum if you die, to go towards repaying your mortgage and securing ownership of your home. You can add specified illness cover, so a payment is made if you are diagnosed with one of a list of serious illnesses.
- Raise or lower your cover amount as your circumstances change.
- Lengthen or shorten the term of your cover.
- A children’s protection package is available, with a payment if a child dies and optional specified illness cover for children.
- Specified illness cover is optional and can be added or removed. Any payment under it reduces your life cover by the same amount.
- If you are diagnosed with a terminal illness and have 12 months or less to live, your life cover can be paid early, as long as at least 18 months of your policy term remain.
- Your premium is guaranteed for the original term and changes only if you add or increase benefits.
- Most applications do not need a medical examination, and New Ireland covers the cost if one is required.
Your cover options
New Ireland offers cover for one life or two, with a conversion option that protects your ability to extend your cover if your health changes.
Single, joint or dual
Single covers one life. Joint covers two lives and pays on the first claim, after which that benefit ceases for the other life. Dual covers two people independently, so the other life’s cover continues after a claim.
Life Choice Home
A flexible plan to clear your mortgage. Cover is designed to reduce over the term in line with a repayment mortgage at an interest rate of 6% a year, so if your mortgage rate is different, the payout may not match what you owe. You can adjust the cover amount and the term, and if you are under 55 you can increase cover after certain life events without new health evidence.
Medical-free conversion option
If you choose this option when you apply, you can later extend your term or take out a new mortgage protection policy without new health evidence, until your 65th birthday or the end of your policy term, whichever comes first. For joint or dual cover, both people must be under 65. It protects your ability to extend your cover if your health declines.
Applying and keeping your cover in place
A few practical points from New Ireland’s information:
- Apply at least 6 to 8 weeks before your mortgage drawdown date. New Ireland can hold an accepted application until drawdown.
- If the application is complete and accepted with no further information needed, policy documents are issued within 10 business days.
- Your premium is guaranteed for the original term. It changes only if you add or increase benefits.
- You have 30 days from the due date to pay. After that, your policy and its protection benefits can cancel immediately.
If a policy lapses, New Ireland usually allows reinstatement within one year of the first unpaid premium, subject to underwriting.
Is New Ireland the right fit?
Worth a closer look if
You expect your circumstances to change, such as moving house or having children, and want to adjust your cover without a new medical. The conversion option may also suit you if you are concerned about your health changing in future.
Check before you decide
Life cover can start up to age 75 and specified illness cover up to age 65 (age next birthday), over 5 to 40 years. If you claim on specified illness cover, your life cover reduces by the amount paid, so it is worth comparing how each provider structures it. We go through the policy documents with you and compare the price with other providers before you decide.
Compare New Ireland with other providers
New Ireland is one of several providers we can arrange mortgage protection with. For life insurance, we are whole-of-market: we have agency agreements with all life companies in Ireland, so we can compare every option for you. See how the others differ:
- Royal London – a choice of interest rate options and optional serious illness cover
- Irish Life – single, dual and joint cover with optional specified illness cover
- Zurich – a convertible option and partner cover on one policy
- Aviva – optional specified illness cover and a second medical opinion service
- Our mortgage protection guide – how it works, who needs it and what affects the cost
We work with Ireland’s leading life & pension companies
Frequently asked questions
Can I change my New Ireland cover later?
With Life Choice Home you can raise or lower your cover amount and lengthen or shorten your term. If you are under 55, you can increase cover up to set limits within 3 months of moving house, marrying, or having or adopting a child, without new health evidence.
What does the conversion option do?
If you choose the conversion option when you apply, you can later extend your term or take out a new mortgage protection policy without new health evidence, until your 65th birthday or the end of your policy term, whichever comes first. It protects your ability to extend your cover if your health declines.
What illnesses does New Ireland’s specified illness cover include?
New Ireland’s optional specified illness cover pays on diagnosis of one of 55 listed illnesses, and makes a part-payment for 36 less serious conditions. Any payment reduces your life cover by the same amount. The definitions and exclusions are in the policy conditions, which we go through with you.
What is the difference between single, joint and dual cover?
Single cover protects one life. Joint cover pays on the first claim for a benefit, and that benefit then ceases for the other life. Dual cover protects two people independently, so the other life’s cover continues after a claim.
When should I apply?
At least 6 to 8 weeks before your drawdown date. New Ireland can hold an accepted application until drawdown, and issues policy documents within 10 business days if the application is complete and accepted with no further information needed.
Will I need a medical?
Most applications do not need a medical examination. If one is required, New Ireland covers the cost.
What happens if I miss a payment?
New Ireland allows 30 days from the due date for payment. After that, your policy and its protection benefits can cancel immediately without notice, and the lender may be told that cover no longer applies if the policy is assigned. Reinstatement is usually possible within one year of the first unpaid premium, subject to underwriting.
See how New Ireland compares for your mortgage
Talk to a Greenway adviser for free. We will compare New Ireland against the other providers we arrange cover with, and set it up so your cover is in place for drawdown.