Which is the best policy?
There’s no simple answer to the question, but here’s how the policies we offer compare. You’ll find the best choice for you.
Greenway Financial Advisors currently arranges policies with Irish Life, New Ireland, Royal London, and Zurich.
Online quote calculators take into account basic details, and provide a standard price. Here are how the insurers compare for their minimum premiums. (Remember these figures can change based on individual details in your application)
Cheapest Possible Mortgage Protection Premium Per Month:
Cheapest Possible Mortgage Protection Premium Per Month:
In joint first place: Zurich – Min Premium €10 per month
In joint first place: Royal London – Min Premium €10 per month
In second place: Irish Life – Min Premium €13 per month
In third place: New Ireland – Min Premium €15 per month
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A good price is important, but it’s not the only factor. Each insurer has different features to their policy, and knowing what they are can help you make the right choice for you and your family.
Mortgage Protection Policy Features:
Royal London Policy Features
Royal London offers Dual Life cover. This pays out for each life insured, but Royal London keep the price the same as their Joint Life policy, and children are covered for up to €5,000.
Their conversion option is also the cheapest, at an extra 5% (this allows you to convert the plan into a life insurance plan without additional medical questions). They offer a 15% discount to the market best premium (price-match premium).
Royal London also offers the Helping Hand range of supports, at no additional cost.
Irish Life Policy Features
Irish Life will allow you to change and adapt your policy without requiring a new application for the first 5 years of the plan. This means you can reduce your cover, or increase by up to 20%, or extend your term.
Irish Life also offers the Life Care range of supports at no extra cost, and from January 2019, all protection customers have access to premium membership and rewards with their MyLife health app.
Irish Life covers children up to €5,000.
New Ireland Policy Features
New Ireland offers a convertible Mortgage Protection policy, at a 10% increase to the premium.
They also offer a Reinstatement option for lapsed policies. With their Guaranteed Insurability, they will allow an increase to a maximum of €500,000.
Children are covered for up to €4,000.
Zurich Policy Features
Zurich offers Waiver of Premium, as an automatic additional benefit. If you can’t work due to illness or disability, Zurich will pay your premium after a period of 13 weeks has passed.
They will also reinstate your policy up to 90 days after the first missed premium payment.
