Buying a home is one of the biggest financial commitments you’ll ever make so putting the right cover in place to protect it is very important. Life Choice Home is designed to pay off the outstanding balance on your mortgage if you die during the term of the policy. Most people take it out for the term of their mortgage and the cover on this plan reduces each month as the amount owed on the on the mortgage reduces.
If you die prematurely your plan can be used to:
- Clear your mortgage
- Secure ownership of your home
It is however important to note that should your mortgage change (e.g. you extend the term or change the amount of the loan etc.) that you also review your related life assurance cover to ensure that it continues to meet your specific needs.
|Life Choice Home is a highly flexible mortgage protection plan which allows you to: |
- Increase or decrease your cover amount
- Extend or reduce your term of cover
- Increase the amount of cover within 3 months of moving house, getting married or having a child without having to provide evidence of health
- Move to a new mortgage or family protection plan without having to provide evidence of health if the Medical Free Conversion option is selected
- Avail of a Children’s Protection Benefit
Terms and conditions apply. Benefits are subject to underwriting and acceptance by New Ireland Assurance Company plc. A government levy (currently 1%) applies to premium paid to life insurance policies.