Benefits of mortgage protection insurance

Benefits of mortgage protection insurance

Purpose of mortgage protection Insurance

It is designed to repay your mortgage in full in the event of your death.

It will also cover a part of your mortgage bills if your income is reduced or you become disabled.

Pros of mortgage protection insurance

1)Best backup for your home loan2)Permanent protection for your house

3)Best form of insurance for disabled people

4)High acceptance rates than any other form of insurance

5)Covers mortgage bills even if your income reduces

6)Covers even if you develop medical issues

Eligibility

1)Anyone under age 502)Holding no other life insurance to cover home loan 3)Mortgage upon own private residence

Factors on which mortgage rate depends on

1) Your age 2) Health condition3) Current value of your house4) Amount of your regular income 5) Current payoff amount of mortgage 6) Nature of your work

Altogether, mortgage protection Cork insurance is a reliable protection plan for homeowners.