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Mortgage Repayment Protector/ Redundancy Insurance cover

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  • 26-02-2009 12:44pm
    #1
    Oh The Humanity
    Closed Accounts Posts: 1,324 ✭✭✭


    Hey All,

    Just wondering what the wisest thing to do about Mortgage Repayment Protector or Redundancy Insurance cover...

    I am worried about being made redundant (like half the country I know!) and wondering what type of policy is best to take out to cover the mortgage if the worst happens.

    Should I steer away from the Policies offered by my lender?
    I am worried about putting all my eggs in one basket, like if the bank turns up toxic then any cover they would have given would surely be useless?

    I saw a few dodgy ones on Google who when you dig down (cro.ie and whois.com) seem to be just individuals who would seem to be untraceable...

    Can anyone advise.

    Many thanks


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    #2
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,215 Mod ✭✭✭✭godtabh


    Oh The Humanity wrote: »

    I am worried about being made redundant (like half the country I know!) and wondering what type of policy is best to take out to cover the mortgage if the worst happens.

    That makes it void in the event you want to claim!

    I looked into it last month and when I told them what I did I was told you reason to suspect that you would be let go in the next 6 months so it wouldnt pay out.

    Its a gimmick as far as I can tell and it makes it very hard to claim


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