Ulster Bank morg protection Irish Life??

joseph brand

I was recently made redundant. I enquired as to whether my mortgage protection would cover my payments for the next year.

They said it only pays during serious illness, but I can get a claim form when I ring a no. they gave me? They had no forms in the bloody bank. (I don't believe them, but I'm fairly cynical).

Cad e an sceil?

Thanks,

Kev.

namloc1980

joseph brand wrote: »

I was recently made redundant. I enquired as to whether my mortgage protection would cover my payments for the next year.

They said it only pays during serious illness, but I can get a claim form when I ring a no. they gave me? They had no forms in the bloody bank. (I don't believe them, but I'm fairly cynical).

Cad e an sceil?

Thanks,

Kev.

Mortgage Protection is a life policy. It pays out a lump sum on death and in some cases for serious illness (very specific illnesses). This lump sum is to clear your mortgage. Mortgage protection will never be paid out if you get redundant...it's life policy only.

You may be thinking of payment protection. That is designed to cover payments if you are unemployed or sick etc. 2 totally different products

unclebill98

The chances are the Irish Life product you have is what you took out at draw down of the mortgage, normally this will only cover death and you may have added serious illness onto it, but that was optional.

The product your thinking off is MRPI. Mortgage repayment protector insurance and this is offered by Cardiff Pinnicle via Ulster Bank.

The reasons the banks do not have the forms is that they tend to change alot and to get the most up to date version your contact the provider directly. This also serves to make sure you've got a valid policy to claim and thus not wasting your time.

amdublin

unclebill98 wrote: »

The reasons the banks do not have the forms is that they tend to change alot and to get the most up to date version your contact the provider directly. This also serves to make sure you've got a valid policy to claim and thus not wasting your time.

Also if you ring the no. you will talk to Irish Life and they will tell you if you are covered etc - in this case no (Mortgage protection does not cover redundancy) and will not send you the form.

If you did suffer a serious illness you would ring the no. and talk to a claims assessor who would talk you through the process, confirm if your condition is covered etc etc.

Your policy is with Irish Life, not with Ulster Bank so that is why you would get the forms with Irish Life and not Ulster Bank.

joseph brand

Thanks for the replies.

I was on their website (Irish Life), and it only mentions illness, serious illness.