Life Assurance: Mortgage Protection Cover

If you are taking out a mortgage or re-mortgaging your house, your lender will insist that you purchase Mortgage Protection Cover. Hibernian offer the most competitive rates in the industry.

You can choose between:

Mortgage Protection Life Cover This cover provides a lump sum payable on death that decreases over the term of the contract.

Mortgage Repayment Cover

This benefit is payable if the insured is unable to perform the occupation stated on the policy schedule for the first two years, and in years three to five on the failure of being able to perform three out of six activities of daily working.

Mortgage Mastercover

A combination of Mortgage Protection Life Cover with Accelerated Serious Illness and Mortgage Repayment Cover.

Mortgage Protection Cover with Accelerated Serious Illness Cover

You have the option of including Serious Illness Cover with Mortgage Protection Cover. This provides a lump sum on the earlier of death or the diagnosis and certification of a prescribed serious illness.

Benefit Prepayment Facility

50% of the serious illness benefit will be prepaid up to a maximum of €20,000 for certain qualifying surgeries.

Children's Cover

This provides for the payment of a serious illness benefit of 50% of the main benefit, but with a maximum benefit of €25,000 or a death benefit of €2,500.

An Optional Benefit of Mortgage Protection with Accelerated Serious Illness Cover is:

Hospitalisation Cover

This is an optional benefit for which a cash amount will be paid for each night spent as an inpatient in a hospital. Hospitalisation must be for 3 consecutive days before the benefit will become payable. It is payable for a maximum continuous period of 1 year. A benefit amount of either €50, €100, or €150 must be chosen. The premium will increase depending on the amount selected.