The Insurance Doctor announces New financial tool on the Web to check your mortgage protection payments.
Every one who has a domestic mortgage is paying a monthly payment to their bank or building society provider.
Life assurance costs in Ireland have significantly reduced in the last 5 years.
Mortgage protection pays off the outstanding balance of a home loan in the event of the premature death of either of the mortgage holder.
This insurance is required by all homeloans lenders and is a compulsory insurance unless it's unavailable due to health issues. So every household in Ireland that has a mortgage may be able to save money by checking the new FREE mortgage protection checking tool on www.theinsurancedoctor.ie
A recent example:
A couple with a mortgage balance of €250000 with 11 years to run on their mortgage. They are both non smokers. Their bank was charging them €142.76 for their original cover. The insurance Doctor reduced their premium payment for the current mortgage balance to €79.86 p.m. That saved them €63.00 per month and over €8,000 over the balance of their mortgage term. Needless to say they were delighted.
Smoker V's Non-Smoker
If you were a smoker when you took out your mortgage and have since stopped you will save money. Why? Non smokers are charged less than smokers for life assurance cover.
If you're currently negotiating a new mortgage check out your premium cost on www.theinsurancedoctor.com before you pay too much to your bank or homeloans lender for the same cover.
The Insurance Doctor is regulated by the Central Bank of Ireland.