If you have a mortgage, you’ll most likely need a life insurance that goes with it which is often referred to as ‘mortgage protection’. This means that the insurance policy is assigned (or owned) by the insurer. How it works is that you sign an ‘assignment of life’ and they then become the beneficiary of the policy but the payments are made by you.
If you want to get a cheaper one you can do so in a few different ways, first of all is annual premiums which typically mean you’ll get about a 10% discount on the price but you have to pay it all at once every year. The other way is to get a re-quote and we can help you with that as we deal with all of the major life companies and some are running discount schemes at the moment.
Call and we can discuss it, 01 6339245