Mortgage Protection Insurance How Does Your Cover Stand Up?
Looking to take out your first Mortgage, cover a further Equity Release or other Bank Debt?
If you have a large debt with a Lending Institution you must always ensure that you have Life Assurance cover in place to cover this debt, otherwise your family will suffer financially on your death.
You will not get a mortgage from a lending institution without having the necessary mortgage life protection policy in place. This is simply a Life Assurance policy that repays the lending institution the amount you owe if you die before the debt is repaid.
Adding a serious illness event to the mortgage protection policy is becoming more popular as well, but this is for your peace of mind not the lending institution’s.
Remember this is not Life Assurance or Serious Illness cover for you…. this policy is assigned to the lending institution to ensure they are repaid the full amount of the loan capital plus interest. Any small balance is returned to the next of kin.
You Also Need A Mortgage Protection Policy For Second Mortgages And Equity Releases.
There are a lot of people who have taken out second mortgages or equity releases on their own home and who have not topped up their mortgage protection cover. This leaves them exposed in the event of death or serious illness.
The lending institution will always get their money back even if this means selling the family home to clear the debt, so it is imperative that any lending the family has is covered by a Life Assurance or Serious Illness policy.
Similarly anyone with investment property should ensure that there is adequate mortgage protection in place.
Most of the lending institutions do not insist on proof of mortgage protection insurance for investment property lending, because they know the property can be easily sold to clear any debt due to them.
If this investment property is part of your pension planning or future income then it is imperative that you protect it with mortgage life assurance while there is outstanding lending.
This is normally the cheapest form of insurance available, so talk to us now about putting the correct level of cover in place to ensure your family is protected. This will guarantee that these assets are passed debt-free to your beneficiaries / next of kin.
Lets get started with Mortgage Protection Insurance Ireland……
We always follow a 4 Step Process to gather your information on your current financial arrangements, assess their suitability for your current circumstances and fill in the gaps:
Step 1 – Initial Meeting (Investigation)
We will sit down with you (and whomever you wish) to ask all the relevant questions which will enable us to determine we are the right fit for you.
Step 2 – Needs Analysis (Fact Finding)
We will gather all of your up to date financial information and then conduct a ‘fair market analysis’ to find solutions to your specific need.
Step 3 – Recommendations
We will present you with your mortgage protection options and discuss the merits of each.
Step 4 – Implementation
We will help you to put your chosen mortgage life assurance option(s) in place and guide you at every step of the way. This will be done in a clear, concise, fuss free manner.
For many businesses and families the initial 1 hour Investigation Meeting shows them the stark reality of what their lack of planning is putting at risk.
The benefit to you is complete clarity:
• For your family
• For your business partners
• For your peace of mind
We ensure there are:
• No surprises
• Every recommendation is designed to match your specific circumstances
• Complete transparency and understanding of each recommendation
• We will simplify and consolidate your current financial needs
Our mission is to ensure, as appropriate, you, your family or your business partners know exactly what financial product you own and why you own it.
In addition we will complete an overview of your financial arrangements so that you will have a Roadmap for future financial planning.
There is absolutely no charge for this and this is our guarantee to you, your family and business partners.
Don’t forget this is a 1 hour meeting – Step 1 of a 4 Step Process that will simplify and consolidate your current financial needs and provide an Independent and tailored solution (s) for the future. This is too important to put on the long finger again.
Call Jacinta Lawlor on 01 906 0398 and organise your complimentary 1 hour Investigation Meeting today – ‘you have everything to gain and nothing to lose’.
We are happy to meet you (together with your accountant/ solicitor/ tax advisor if appropriate) at a location and time convenient for you.
Fundamental Life and Pensions Financial Advisors Dublin Ireland.
Unit 11, Keypoint, Rosemount Business Park, Rosemount Park Drive, Ballycoolin, D11 W2YC, Ireland
We provide mortgage protection insurance which is mortgage life assurance, if you are getting a mortgage then mortgage life and mortgage payment protection insurance is required by many lenders. At Fundamental we can arrange mortgage life cover and mortgage payment protection for you quickly and affordably.
