Mortgage protection insurance is a life insurance policy designed to clear the balance owing on a mortgage. The insurance company will clear the mortgage if the policy holder(s) pass away. Like all insurance policies, terms and conditions apply, including the need to maintain your policy payments up to date.
In Ireland, mortgage protection insurance is required for all individuals taking out a home mortgage, if they are 50 years old or less. Premiums start from €10 per month.
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