Mortgage protection policies

Information

If you are unable to work due to compulsory redundancy, an accident or illness it is worth checking if you have mortgage repayment protection insurance.

Mortgage repayment protection insurance repays your mortgage for a certain period of time in the event of illness or compulsory redundancy.

Mortgage repayment protection insurance is not the same as mortgage protection insurance.

Mortgage protection insurance

Mortgage protection insurance is designed to pay off your mortgage if you die. It is often compulsory to take out mortgage protection insurance when you take out a mortgage. It does not help with your mortgage payments if you are made redundant or become ill.

Find out more about Mortgage Protection Insurance on the Financial Regulator's consumer website, itsyourmoney.ie.

Mortgage repayment protection insurance

Mortgage repayment protection insurance is usually optional. It is designed to repay your mortgage for a certain amount of time – typically 12 months – if you have an accident or are made redundant.

Find out more about Mortgage Repayment Protection Insurance on itsyourmoney.ie.

You should check with your mortgage lender or insurance broker or insurance company if you are uncertain if you have mortgage repayment protection insurance.