MORTGAGE PROTECTION INSURANCE
Get Mortgage Protection
- Low monthly premiums - Protect your home and family from €10 per monthFootnote 1
- Aviva Life & Pensions Ireland paid over €121 million in protection claims in 2023Footnote 2
- Exclusive access to Aviva Care at no extra charge, including Digital GP
What is mortgage protection insurance?
When you're taking out your mortgage, your lender will usually request that you also take out a mortgage protection policy. But what is it? It's a cheaper form of life cover, designed to help pay your outstanding mortgage balance if the worst were to happen. So you know your family are secure in the home they love.
-
Expert advice
Aviva Directs financial advisers can help you get the right cover set up quickly and easily.
-
Easy paperwork
Aviva Direct complete all the paperwork with a signature-free process. Footnote [3]
-
Aviva Care
You get access to services like Digital GP, Best Doctors, Family Care Mental Health support and Bereavement Support. See the mortgage protection brochure for further details.
How does mortgage protection work?
When you take out a mortgage, your loan provider will insist you have enough life cover in place to repay the outstanding amount if you die within the term of your mortgage. This is a cost effective type of life insurance cover, as the life cover amount reduces over the term of the mortgage/policy. However, to give you further protection, you can combine your life cover with serious illness cover. This gives you protection for a number of specified serious illnesses.
When you take out a Mortgage Protection plan, you’ll pay a premium each month for the length of your policy.
Your mortgage protection plan helps pay off your outstanding mortgage if you die before the end of the term. It’s designed to work along side your mortgage, as the amount of cover reduces (by a fixed percentage) over time as you pay off your mortgage.
As you would expect, because your cover decreases over the term, this type of life insurance is usually cheaper than cover which does not decrease throughout the term of the policy.
The cost of your Mortgage Protection cover will depend on:
- the size of your mortgage - this determines the amount of cover you need
- whether you add a conversion option
- whether you add specified illness cover
- the length of your mortgage – this determines the term of your plan
- your age
- whether you are a smoker or non-smoker
- your current state of health
- whether you take out the plan by yourself or jointly with your partner
Additional cover
You can get even more peace of mind by adding specified illness cover to your mortgage protection policy. This means that if you are diagnosed and proven to have a specified illness or if you die, your benefit will be paid. About specified illness cover.
Life Insurance vs Mortgage Protection, the difference
Siocha Costello, Protection Marketing Manager, Aviva Life & Pensions Ireland DAC explains the difference between Life Insurance and Mortgage Protection.
Transcript
00:00:00 Video starts
00:00:05 Siocha Costello, one minute pitch. The difference between Life Insurance and Mortgage Protection, your time starts now.
What is Life Insurance?
00:00:14 Siocha Costello, Protection Marketing Manager, Aviva Life & Pensions Limited
In a nutshell life insurance will pay your dependents a lump sum if you die.
00:00:20
What is Mortgage Protection?
00:00:22 Siocha Costello
Mortgage protection pays out the outstanding balance of your mortgage if you die.
00:00:25
So, what is the main difference between the two?
00:00:27 Siocha Costello
The money from you mortgage protection goes to your lender to pay off your mortgage so your family home is secure. Life insurance gives your family money for all their other expenses, childcare costs, electricity costs and loans.
00:00:41
Why would you need both?
00:00:42 Siocha Costello
If you are taking out a mortgage you are required to have mortgage protection in place, having both means having all your family financial outgoings are taking care off.
00:00:52
When is a good time to get cover?
00:00:54 Siocha Costello
Insurance costs are generally based on several factors. One of those is age so the younger you are generally the cheaper it is.
00:01:03
What do you think is the best thing about these products?
00:01:06 Siocha Costello
I think the peace of mind that comes will knowing that your family is financially secure if anything happened to you.
00:01:12
Siocha your time is up.
To find out more about Life Insurance and Mortgage Protection talk to your Financial Broker.
00:01:23 Video ends
Do you already have mortgage protection with us?
- See your policy in Aviva Online Service Centre
- Register for Aviva Online Service Centre
- Make a claim
Contact Aviva Life & Pensions Ireland customer service team
1800 159 159
Monday, Tuesday, Thursday and Friday: 9:00a.m. - 4:00p.m.
Wednesday 10:00a.m. - 4:00p.m.
Email: csc@aviva.com
Mortgage protection insurance cover features
Aviva Care
With your protection policy you have access to the following services through our Aviva Care benefit:
Talk to us today!
Get guidance from Aviva Direct professional financial advisers to help you get cover suited to your needs.
Monday to Friday: 9:00am – 5:00pm
Weekends and Bank Holidays: Closed
Mortgage protection insurance quotes
With insurance from as little as €10 per month1, you can get a mortgage protection quote in minutes with our online form.
Why choose Aviva for mortgage protection insurance?
Aviva has been providing trusted protection in Ireland for over 240 years. We’re part of the Aviva Group, providing 19.2 million customers* in the UK, Ireland and Canada with a range of solutions to meet their insurance, wealth and retirement needs. We’re there to protect the things that matter most to our customers: their homes and belongings, their health and wealth, their future and their families.
*Source: Aviva plc Annual Report & Accounts 2023.
Contact us
Aviva Life & Pensions Ireland existing customers
1800 159 159
Monday: 9:00a.m. - 5:00p.m.
Tuesday: 9:00a.m. - 5:00p.m.
Wednesday: 10:00a.m. - 5:00p.m.
Thursday: 9:00a.m. - 5:00p.m.
Friday: 9:00a.m. - 5:00p.m.
Saturday - Sunday: Closed
Email: csc@aviva.com
For a new quote, contact Aviva Direct
091 784440
Monday to Friday: 9:00a.m. - 5:00p.m.
Saturday - Sunday: Closed
Bank Holidays: Closed
Policy details
The documents below contain everything else you might need to know:
Mortgage protection articles
Take a look at our library of helpful articles and news.
Thinking of making additional payments to reduce your mortgage or pay it off early?
In a position to pay some extra money off your mortgage? Here’s everything you need to know about how to pay off your mortgage early.
What do I need to apply for a mortgage?
Whether you’re a first-time buyer, purchasing your second home or re-mortgaging, find the list of documents you need to apply.
How does Mortgage Protection Insurance Work
Are you thinking about, or in the process of buying mortgage protection insurance? If so, check out our handy checklist to make the process as simple as possible.
Benefits of mortgage protection insurance?
Want to learn more about mortgage protection insurance – how it’s used and the benefits?
Mortgage Protection Jargon Explained
Buying your first home can be an exciting but confusing time. Read on for all mortgage protection jargon explained.
7 Myths about Mortgage Protection Insurance
Learn the common myths about Mortgage Protection, so you can make informed decisions and get the best value for your money.
Mortgage Protection 101
Buying a home is a significant milestone in anyone’s life, so it makes sense to protect your investment in the best way possible...