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Life Cover/Life Assurance for Mortgage

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  • 19-09-2007 12:08pm
    #1
    PIMPHO
    Registered Users Posts: 470 ✭✭


    Hi,



    I'm in the process of getting a mortgage with EBS and the life cover they are quoting me is around €75 a month. Is this the normal rate as I think it's a bit steep? Any suggestions of the best priced cover?



    Thanks


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    #2
    tHE vAGGABOND
    Registered Users Posts: 6,687 ✭✭✭tHE vAGGABOND


    bit steep IMHO..

    Im rather quite unhealthy in several ways and Im only going to be paying 55 :)


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    #3
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭Zambia


    PIMPHO wrote:
    Hi,



    I'm in the process of getting a mortgage with EBS and the life cover they are quoting me is around €75 a month. Is this the normal rate as I think it's a bit steep? Any suggestions of the best priced cover?



    Thanks

    F88K me have you cancer ???

    I paid about 16 yo yo a month , not down south anymore cant help you sorry but thats to much if yuor a healthy person in the 20's , 30's


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    #4
    PIMPHO
    Registered Users Posts: 470 ✭✭PIMPHO


    I am a healthy 27 yr old male, non smoker and light drinker. Thought it was a bit steep alright. Any suggestions where I could get a better quote?


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    #5
    tHE vAGGABOND
    Registered Users Posts: 6,687 ✭✭✭tHE vAGGABOND


    I went via a broker - and my best quote is with Irish Life..


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    #6
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭Zambia


    PIMPHO wrote:
    I am a healthy 27 yr old male, non smoker and light drinker. Thought it was a bit steep alright. Any suggestions where I could get a better quote?

    To beat that try the UVF, cant be worse

    or Irish life


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    #7
    BC
    Registered Users Posts: 1,326 ✭✭✭BC


    It depends on what it includes. Obviously different packages include different things so you would need to compare like packages in order to get an accurante comparison. Obviously it also depends on your age, history & health status so comparing with other people here may not be very useful.

    I just have the absolute minimum mortgage protection cover and its costing me about 25 a month.


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    #8
    Victor
    Registered Users Posts: 78,400 ✭✭✭✭Victor


    How much is the mortgage?

    Note the banks are currently looking to get in money any way they can because of the liquidity crunch.


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    #9
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    75 euro a month is insane if you don't have any medical conditions.

    I'm a 30 yo non-smoker and pay the grand total of 16 euro a month for life cover with Canada Life.

    Didn't bother with the serious illness cover as I've no dependents (yet!) and an insurance tied into my job which pays out adequately in the event of serious illness.


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    #10
    wasim21k
    Registered Users Posts: 438 ✭✭wasim21k


    well i m paying 78/month, non smoking non drinker, still :mad: eagle start
    rang 123 and again eagle star but 211/year:eek: why? how? dont know.
    i hate to pay extra and its normal cover and same cover by 123


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    #11
    gibo_ie
    Registered Users Posts: 782 ✭✭✭gibo_ie


    Guys, it really depends on how much the mortgage is for, this may be really cheap or really expensive. Check on some websites like www.123.ie or prima finance or hibernian and the like. Dont choose Disability benefit if you can as this ups the price quite a bit (obviously this is just a suggestion to keep the price down - i do not condone ignoring possible future illnesses).

    I have three or four life assurance/mortgage protections out at the moment for multiple mortgages and 123.ie has been the winner each time in my own personal case. The bank (AIB) actually told me that they were much higher themselves than the specialist companies.
    Good Luck.


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    #12
    trilo
    Registered Users Posts: 496 ✭✭trilo


    PIMPHO wrote:
    Hi,



    I'm in the process of getting a mortgage with EBS and the life cover they are quoting me is around €75 a month. Is this the normal rate as I think it's a bit steep? Any suggestions of the best priced cover?



    Thanks


    We went with EBS for our mortgage and they gave us the quote much the same as what you've been quoted.
    This quote is not for basic life assurance, critical illness cover is in it as well, that is why it is so much.

    What you should do, i did the following (wrecked my head trying to decide)

    1) Read the documents they have given you about this cover.

    2) If they have tried to sell you cover for critial illness, read this info and decide whether you need it. Be aware if you do decide to cancel it they will try and make you change your mind, as there getting a nice commission on the sale.

    3)If you jsut get basic cover this will be a few yo yo's, which will pay out your mortgage if you die.


    I knwo it is all confusing at the moment, it was for me too until i forced myself to get on top of it. The worst thing is making the decision.

    Good luck.


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