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Mortgage protection

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  • 09-10-2016 2:42pm
    #1
    dar_cool
    Registered Users Posts: 1,289 ✭✭✭


    Hi Guys,
    Just a quick question I have letter of offer from BOI and at the time talked to mortgage protection guy and decided to go with them. Was 51 Euro a month. Since then I have got a few quotes for way less for the same cover. I haven't drawn down on the mortgage yet, can I cancel the bank of Ireland mortgage protection that hasn't stared yet and take out the other policy ?
    Thanks in advance


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    #2
    micar
    Registered Users Posts: 1,896 ✭✭✭micar


    Does the boi policy have life cover only?

    Did they include critical illness?

    You have a 30 day cooling off period


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    #3
    dar_cool
    Registered Users Posts: 1,289 ✭✭✭dar_cool


    micar wrote: »
    Does the boi policy have life cover only?

    Did they include critical illness?

    You have a 30 day cooling off period

    Yes has critical illness cover. Oh OK thanks I didn't know about the 30 day cooling off period.
    Thanks for the help


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    #4
    micar
    Registered Users Posts: 1,896 ✭✭✭micar


    The letter you got confirming cover should also state you have 30 days to change you mind.

    Are the quotes you are getting else where only life cover or do they include critical illness.

    Critical illness is very expensive. 2-3 times cost of life cover.


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    #5
    dar_cool
    Registered Users Posts: 1,289 ✭✭✭dar_cool


    micar wrote: »
    The letter you got confirming cover should also state you have 30 days to change you mind.

    Are the quotes you are getting else where only life cover or do they include critical illness.

    Critical illness is very expensive. 2-3 times cost of life cover.
    The quotes I'm getting are for both. 53 Euro with boi and 21 with royal london


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    #6
    micar
    Registered Users Posts: 1,896 ✭✭✭micar


    I'd re check the royal London quote...the premium is pretty low.... I think it might just be for life cover.


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