Compare Mortgage Protection Ireland 2026

Compare Mortgage Protection Ireland (2026 Guide)

Shopping around for mortgage protection insurance? Smart move. With significant differences between policies and premiums varying by hundreds of euro annually, comparison is essential. But comparing mortgage protection isn't just about finding the cheapest quote—it's about understanding what you're actually getting.

Why Compare Mortgage Protection Policies?

Mortgage protection is legally required in Ireland for your primary residence, but there's no requirement to accept the first policy suggested. Different insurers have different strengths, pricing models, and policy features.

The cheapest policy isn't always the best value. A policy costing €20 more monthly with better terms could save you thousands if you claim. Conversely, paying extra for unused features is wasteful.

What Actually Differs Between Policies?

All mortgage protection policies pay off your mortgage if you die during the term. However, the details matter.

Underwriting approach: Some insurers offer accelerated underwriting for straightforward cases—faster approval without medical exams. If you're rushing to close on a property, this matters.

Conversion options: Can you convert to different life insurance later without new medical underwriting? Valuable if you want to maintain cover after your mortgage is paid off.

Portability: What happens if you move house or switch lenders? Most policies are portable, but terms vary.

Serious illness add-on: Not all insurers offer the same serious illness riders. Conditions covered, definitions used, and pricing can vary significantly.

Comparing Premium Structures

Guaranteed vs. reviewable premiums: Some policies guarantee your premium won't increase (except with indexation). Others reserve the right to review premiums. Always clarify which you're getting.

Indexation options: Many policies offer automatic indexation where cover and premium increase annually with inflation. Not all insurers offer this, and terms vary.

Payment frequency: Can you pay monthly or annually? Some insurers offer discounts for annual payment.

Occupation Definitions Matter for Add-Ons

Many mortgage protection policies include serious illness cover as an optional add-on. Here, occupation definitions become crucial.

Check whether serious illness cover uses "own occupation" (covered if you can't do your specific job) or "any occupation" (only covered if you can't do any suitable job). Own occupation is more protective but costs more.

Most policies include terminal illness benefit—payment if diagnosed terminally ill with less than 12 months to live. Conditions for this vary between insurers.

Comparing Claims Experience

How insurers handle claims matters enormously, though you hope never to find out firsthand.

Claims statistics: Some insurers publish claims acceptance rates. High acceptance rates (95%+ is good) suggest an insurer that doesn't look for technicalities to decline claims.

Customer service: Try calling insurers with questions before buying. How responsive are they? This gives you a sense of what dealing with them long-term will be like.

Dual Life vs Single Life Comparison

If buying property with a partner, you'll need to decide between dual life cover (both lives on one policy) and single life cover (one life insured).

Dual life first death: Policy pays when the first person dies. Most affordable option and covers the immediate need—paying off the mortgage.

Two single life policies: Each person has their own policy. More expensive but offers flexibility—if you separate, each keeps their own cover.

Comparing Additional Benefits

Terminal illness benefit: Most modern policies include this—payment if diagnosed terminally ill with less than 12 months to live. Check if it's included and on what terms.

Children's cover: Some policies include free life cover for children (typically €10,000-€20,000).

Premium protection: Some insurers waive premiums if you become unemployed or seriously ill. Terms are usually restrictive but worth checking.

Health Loading and Exclusions

If you have health conditions, comparing how different insurers assess them is crucial. One insurer might load your premium by 50% while another charges 25% extra or accepts you at standard rates. For common conditions like controlled high blood pressure, ratings vary significantly—worth shopping around.

The Broker Advantage in Comparison

A good broker compares policies professionally and knows which insurers are currently competitive for different profiles. They understand underwriting appetites and handle comparison admin. Since they're paid by commission from insurers, there's usually no extra cost to you.

Common Comparison Mistakes

Only comparing on price: The cheapest quote might come from an insurer with poor claims service or restrictive terms.

Ignoring the small print: Premium guarantees, indexation terms, conversion options—these details matter.

Not reviewing regularly: Review when you remortgage or your circumstances change. Competitive policies from five years ago might not be today.

Comparing different coverage amounts: Ensure quotes are for identical cover amounts and terms.

Questions to Ask When Comparing

Are premiums guaranteed or reviewable?
What conversion options exist?
Is the policy portable if I move house?
What's included as standard vs. optional extras?
How quickly can you process my application?
What are your claims acceptance rates?
Can I increase cover later without medical underwriting?

The Bottom Line

Comparing mortgage protection in Ireland means looking beyond headline premiums to understand what you're actually buying. Policy features, insurer reliability, underwriting speed, and claims service all matter. The right policy balances affordable premiums with comprehensive protection and good service.

Take time to compare properly. You're potentially committing to 25-30 years with this insurer. A few hours of comparison now could save you thousands over the policy lifetime and ensure you have proper protection when it matters most.