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Mortgage Protection your lender offers 2

Points to keep in mind should you choose to take out your mortgage protection policy with your lender rather than shopping around elsewhere:

1.      By shopping around you’ll obtain a cheaper policy. The money you save on this cheaper policy can be put to better use, like accelerating the repayments on your mortgage and clearing the loan earlier.

2.      Banks employ sales persons to sell to a captive audience. They have to meet sales targets. You are a sales target.

3.      Payments for your mortgage protection and loan are bunched into one convenient direct debit. Convenient for the banks because as time goes by you won’t realise how much you are spending on your policy and it is less likely you’ll move.

4.      The mortgage protection they sell you is a ‘group’ policy. This may restrict you if you want to switch your mortgage later on as your lender will automatically cancel your mortgage protection insurance when you move your mortgage. This means you will have to buy a new mortgage protection insurance when you move your mortgage and the older you are, the more it will cost you. If your health has dis-improved since you took out your mortgage, you may not be able to get new mortgage protection cover.


LABrokers has specialised in arranging independent mortgage protection online since 1997.

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About LA Brokers

LABrokers became Ireland's first online discount broker in 1997. We specialize in selling discounted insurance products to residents of the Republic Of Ireland.

Our chief executive is John Geraghty, who has many years experience of looking after the Life Insurance, and related insurance requirements, of clients from all over Ireland. Our foundations are firmly based in our successful "real world" insurance brokerage practice in Greystones, Co. Wicklow.


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Co. Wicklow

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