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Taking out a mortgage is a large investment, and is very dependent on one person for its success – you. As a result it is very important that you cover yourself in case anything may happen to you.
How are your family and dependents covered? Who will take care of the mortgage repayments, provide for their future?
These are all questions that you have to ask yourself, and life cover can provide the answers to these questions.
So why not let us help you with your Life Cover requirements, pick up the phone and call ZINC Financial on 1890 570 570.
What is Life Assurance?
Life Assurance is a policy that provides payment in the event of death of the policy holder. Life Assurance can take on different forms, please see below for the different types of Life Cover available.
How much Life Cover do I Need for My Mortgage?
If you are purchasing a property as your main residence you will require to take out life cover equal to the size of the mortgage. Serious illness cover should also be considered, and should be discussed with your advisor.
What Is Serious Illness Cover?
Serious Illness Cover pays a lump sum benefit if you are diagnosed as suffering from one of the serious illnesses specifically covered by your policy
What are the Different Types of Mortgage Cover Available?
Regular Term Cover: This is life cover, that covers a mortgage, and the balance of cover reduces in line with the balance of the mortgage.
Level Term Cover: This policy provides the same amount of cover throughout the term of the mortgage. No savings are attached to this cover.
Convertible Term Cover: This is exactly like level term cover, except that at the end of cover, you have a "conversion option" to transfer this cover on to another policy without having to do a medical for this new policy.
Dual Life: This is a life insurance policy that provides cover for two people and continues in force after the first person dies. It pays out benefit on each death
Joint Life: This is a type of life insurance policy that covers two lives, such as you and your spouse, child or business partner. It pays out the benefit only once, either you or your partner dies while the policy is in force.
How Long Do I Need Life Cover For My Mortgage?
You will require Life Cover for the term of your mortgage, which can range from 5 - 40 years.
Who Should Have Life Cover?
All parties to the mortgage are required to hold life cover, and have this cover assigned to the mortgage lender.
Can ZINC Arrange My Life Cover For Me?
ZINC Financial can assit you with all your Life Assurance requirements, having a full suite of products through our tied agent status with Irish Life.
Do ZINC Mortgages offer Life Assurance Cover that is not related to Mortgages?
Yes, ZINC Financial can assist you with all your Life Cover needs. As a tied agent of Irish Life we have access to all of Irish Life Products, that include life cover, pensions, and income protection. Just call us and we can assist you with any questions that you may have or even assist you in obtaining any of these products |