The Consumer Credit Act, 1995, gives you the right to choose your own Mortgage Protection Insurance policy.

Many people arrange their Mortgage Protection cover in the most convenient way possible, by filling in the mortgage protection part of their loan application form. However, convenience has its price:

  • By shopping around, you can ensure that you get the best value for your money
  • In the future, should you want to change your mortgage provider, an independent Mortgage Protection Insurance policy would keep your policy in force, whereas cover under your original lender's group scheme would cease
  • Independent cover allows you the freedom to change mortgage provider without having to replace your existing cover, a real concern if your health has deteriorated.

Is the lenders name noted on a policy?

No. The lenders name is not noted on the Insurance policy until you hand them the policy document for 'assignment'


John Geraghty