if you're considering mortgage protection I'm sure you have lots of questions so in this video I will go

through the seven most commonly asked questions. The first one is what's the difference between life insurance and

mortgage protection?
Life insurance and mortgage protection are both types of life insurance. Any life insurance policy

will clear your mortgage if you die. The difference between life insurance and mortgage protection

is the amount of cover that you take out doesn't decrease over

time so if you buy €300,000 life insurance over 30 years it will stay at 300,000 for

those 30 years. On a mortgage protection policy that €300,000 would reduce over time

in line with your mortgage.
So life insurance will clear your mortgage and may leave a lump sum behind sum behind but mortgage

protection will only clear your mortgage.

Question 2: Does mortgage protection clear my mortgage if I get sick?

No, it doesn't. Mortgage protection is a death only policy. If you're interested in clearing your mortgage if

you get sick you need to look at adding critical illness cover or serious illness cover

Q3: Will my bank accept mortgage protection from your insurer? Yes you don't have to buy mortgage

protection from the bank. You're free to choose which insurance company you go with so you can use a broker

or you can use your bank if you find it more convenient.

Number 4: How much does

mortgage protection cost?
The million-dollar question!
It's too difficult to say without knowing more about your individual situation.

The price of your mortgage cover will depend on your age whether you smoke how much cover you're

taking out, the term of your policy, if you have any health issues. Ballpark average if you

don't have any health issues, you're probably looking at 20 25 Euros a month but again

that is a that is a huge average assuming a lot of things.
Q5: What is

the difference between joint and dual life cover? Yeah this one crops up a lot as well.

So dual life mortgage protection cover pays out on both death so it's it's two people insured under one policy. If the

first person passes away the mortgage is cleared but cover will continue for the second person. Whereas on a

joint policy you're both covered on the same policy but if the part first person

dies the policy will then end. There is no continuing cover for the second person

So just to recap, on dual life cover both people are insured and there can be two payouts. On a

joint life policy there is one pay out on the first death only.
Nowadays dual life

is the same price of joint life with some insurers so it's a no-brainer. Dual life life all

the way!

Q6: And finally, what's convertible mortgage protection? Okay this is not a new benefit

but it's getting more popular as people understand it a little bit more. Let's go through a non-convertible basic

mortgage protection policy first to may make things simpler.
If you don't have a conversion option on your policy,

you can't extend the term of your mortgage in the future - you would have to take

out a new policy. Whereas if you have a convertible mortgage protection policy you can extend the term

in the future without medical questions. So let's say you want to take out a home improvement loan

in the future and you want to extend your mortgage by five years. If you have a conversion

option you can do so without answering medical questions. If you don't have to conversion option you would

have to reapply, you're maybe five years older and may have had health issues so it may

be more difficult to actually get cover in the future. The conversion option gives you the

safety net of guaranteed cover into the future. It's about 5% extra in monthly premiums but we

do definitely recommend it!
That's it that's the top seven (six!) questions. Hope it's helpful

if you're considering mortgage protection I'm sure you have lots of questions so in this video I will go

through the seven most commonly asked questions the first one is what's the difference between a life insurance and

mortgage protection life insurance and mortgage protection are both types of life insurance and a life insurance policy is one

that will clear your mortgage if you die the difference between life insurance and mortgage protection

is on the life insurance policy the amount of cover that you take out doesn't decrease over

time so if you buy three hundred thousand life insurance over 30 years it will stay at 300,000 for

those 30 years on a mortgage protection policy that 300,000 would reduce over time and

in line with your mortgage so life insurance will clear your mortgage and maybe leave a lump sum behind mortgage

protection would only clear your mortgage number two those mortgage protection to hear my mortgage if I get sick

no it doesn't mortgage protection is a death only policy if you're interested interior mortgage if

you get sick you need to talk about critical illness cover and our series of the score well

my bank except mortgage protection from your insurer yes you don't have to buy Mark

projection from the bank you're free to choose which insurance company you go with so you can use a broker

or you can use your blanket we find it more convenient number for how much does

mortgage protection cost the million-dollar question it's too difficult to say without knowing more about your individual situation and

the price of your mortgage cover will depend on your age whether you smoke how much cover you're

taking out the term of your policy if you have any health issues ballpark average if you

don't have the issues you're probably looking at 20 25 Euros a month but again

that is a that is a huge average assuming a lot of things what is

the difference between joint and do life cover yeah there's some crops up a lot as well

so do live cover pays out on both death so it's it's two people insured under one policy if the

first person passes away the mortgage is cleared but cover will continue for the second person whereas on a

joint policy you're both covered on the same policy but if the part first person

dies the policy will then end there is no Continuum covert for the second person

so just to recap Jew life cover both people are insured and they can be two pads and a

joint life policy there is a pay out on the first date and only and nowadays do life

is the same price of joint life with some insurers so it's a no-brainer to life all

the way and finally for w convertible mortgage protection okay this is a its own new benefit

but it's getting more popular as people understand it a little bit more and let's go through a non-convertible basic

March protection policy first two may make things simpler so if you don't have a conversion option

you can't extend the term of your mortgage in the future you would have to take

out a new policy whereas if you have a convertible mortgage protection policy you can extend the term

in the future without magically questions so let's say you want to take out a home improvement loan

in the future but you want to extend your mortgage by five years if you have a conversion

option you can do so without answering magically questions if you don't have to conversion option you would

have to reapply maybe five years older you may have had health issues so it may

be more difficult to actually get cover in the future so the conversion option gives you the

safety net of guaranteed cover into the future and it's about 5% extra IAM or that we

do definitely recommend it that's it that's the top seven questions hopeful