Q. Do I have to take out my Mortgage Protection policy with my mortgage provider?
A. No, you can get a policy from any provider ensuring it is for the correct term and amount.
Q. What happens to my Mortgage Protection policy if I pay my mortgage off inside the term?
A. The policy remains in place until the original term of policy expires, reducing in line with the term. Also you can stop policy immediately.
Q. How much Life Cover should I have in place?
A. It will depend on your monthly requirements, but if either spouse dies and your mortgage is paid off , then as an example you then have €3,000 of monthly outgoings, you would need €500,000 approximately to cover you for 16 years.
Q. Can I change my existing Mortgage Protection policy?
A. Yes, you can get a new policy from any provider ensuring it is for the correct remaining term and amount.
Q. Do I have to have Mortgage Protection on all my Mortgages?
A. No, you are only required to have a Mortgage Protection on your home.
Q. What term should my Life Cover be in place for?
A. It should ideally be in place until your dependants would not be financially dependent on you.
Q. Do you have Mortgage Protection for the right term?
A. 16% of clients we reviewed were not covered for the correct term.
Q. What is my position If I smoked when I took out my original Mortgage Protection policy?
A. If you have stopped smoking for over one year, the policy can be reviewed and premium should reduce.
Q. What is the cheapest form of Life Cover?
A. Mortgage Protection is the cheapest for of Life Cover, as it is based on a reducing cover term.
Q. How does Indexation Life Cover work?
A. The cover and premium increases at a % each year. Be careful as indexation rates can vary and be very expensive if correct policy to your needs is not put in place.
Q. What age should I put Life Cover in place?
A. The Life Cover should be put in place when you need it and as young as possible, because it is inexpensive then. An example of a 25 year old male and female, non smokers, €500,000 for 30 years, level term costs €43.55 per month.
Q. Where can I get cheapest Life Cover?
A. RMLC.ie ensures you get the cheapest cover available in the market place?
Q. Why do I need Life Cover?
A. Life Cover is designed to help protect your loved ones financially if you die. The cash sum can be used to pay outstanding debts
(eg. Mortgages) or provide financial security for your family and dependents.
If there are people who depend on you financially, you'll probably need to consider Life Cover. Remember that inflation reduces the
spending power of any money paid out in the future. You should regularly review your cover.
Q. Can I apply for Cheapest Life Assurance online?
A. You can get a quote online but applications must be made over the phone. We're confident that by speaking to us, any questions
you may have can be answered directly and we will make sure no important information is missing from your application.
Q. When I apply, how much personal information will I need to provide?
A. You’ll be asked about your personal and family medical history, your occupation and your pastimes. Your answers will be used in
assessing your application and will be kept confidential and never disclosed.
Q. Can it cover my partner as well?
A. Yes. You can set up your plan jointly with your partner so the cash sum is payable on the first death or the first diagnosis of a
terminal illness during the cover term. If the cash sum is paid, the plan will end.
Q. Are there any age limits?
A. You must be aged 18 or over when you start the plan and your cover must end before you reach the age of 85.
Q. How much will the cover cost me?
A. This will depend on:
• the cover amount you need
• how long you need it for
• whether you smoke or use nicotine products
• your age and sex
• your medical history, occupation and pastimes.
Q. Can I change my cover during the term?
A. Yes, the plan allows you to increase or reduce the cover level and the cover term depending on your age, health, occupation and
pastimes at the time. Changes also depend on the plan terms and conditions at the time.
Q. What happens if I stop my payments?
A. If you miss a payment, your plan will continue for 30 days. If you don't pay it within this time, your plan will stop and you won't get
anything back.
is the trading name of Kane Bergin & Company Registered Auditors & Accountants,