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Mortgage Protection

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  • 25-05-2015 8:02pm
    #1
    Star55
    Registered Users Posts: 64 ✭✭


    Hi
    my friends husband has died tragically from suicide, does anyone know if her mortgage protection will cover her home. She is not working and has 4 children to look after. Any advice is appreciated.
    Thank s


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    #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    Dreadful thing to happen. How long was the policy in force?


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    #3
    PaulM1977
    Banned (with Prison Access) Posts: 210 ✭✭PaulM1977


    Star55 wrote: »
    Hi
    my friends husband has died tragically from suicide, does anyone know if her mortgage protection will cover her home. She is not working and has 4 children to look after. Any advice is appreciated.
    Thank s

    A mortgage protection policy would need to be in force for at least 12 months before a claim can be made against it for suicide. If it has been, then your friend should be able to clear the mortgage balance outstanding, provided it covers the remaining loan amount.

    My condolences to your friend.


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    #4
    Star55
    Registered Users Posts: 64 ✭✭Star55


    Henry Ford III wrote: »
    Dreadful thing to happen. How long was the policy in force?

    policy has been in place for 12 years


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    #5
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    Star55 wrote: »
    policy has been in place for 12 years

    Claim should be routine in that case.


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    #6
    NIMAN
    Registered Users Posts: 33,609 ✭✭✭✭NIMAN


    Terrible story and awful for all concerned.
    Hopefully the insurance will pay off the outstanding mortgage as this is one less headache I am sure is needed at this difficult time.


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