What is mortgage protection insurance?
Mortgage protection is taken out when you are purchasing a home. This type of insurance is to pay off the outstanding mortgage on your home in the event that you die.
With mortgage protection you also have the option to add specified serious illness cover at an additional cost. This will pay out if you are diagnosed with a specified serious illness, within a specified term.
How much will it cost you?
Different factors are taken into consideration when calculating the cost of mortgage protection insurance. These include:
- Your age
- Your health
- Your smoking status
- The amount of cover needed
- The term of your cover
- The benefits you choose
Mortgage protection cover types
Guaranteed mortgage protection (decreasing term protection)
Convertible mortgage protection
Single, Dual & Joint life Cover
Serious Illness Cover
Zurich mortgage protection benefits
A Zurich mortgage protection policy comes with the following benefits and optional add-ons:
Waiver of premium
Premiums are paid in the event of you being unable to work due to illness or injury. This benefit is unique to Zurich and is offered free of charge.
Reinstatement clause
Unpaid premiums can be repaid within three months of the date on which the first unpaid premium was due.
Protection continuation
Extend the term of the cover at any stage without providing evidence of health.
Guaranteed insurability
Ability to increase the sum insured without further medical evidence following approval for a new mortgage or increase to an existing mortgage.
Serious illness cover
Serious illness cover can be added to provide financial support if you are diagnosed with a serious illness.
Terminal illness cover
Full amount of Life cover in the event that you are diagnosed with a terminal illness at least twelve months before the end of the term you have chosen.
Mortgage protection insurance with Zurich
Best mortgage protection provider1
Excellent claims service
Internationally rated AA/stable† Financial Strength2
Market leading pricing
Insurance Ireland Code of practice for cancer survivors
Existing customers?
How does the mortgage protection application assessment process work?
Get a quote from Zurich.
We'll gather some information such as your age, smoking status, the amount of cover required and the term of the loan.
Complete our proposal form, which covers the standard medical questions. Our underwriting team will take this information and proceed from there.
Apply for mortgage protection insurance
Arrange for us to contact you or call 0818 804 164
Not sure where to start?
Frequently asked questions
Zurich Life has signed up to the Insurance Ireland Code of Practice for Underwriting Mortgage Insurance for Cancer Survivors. This means that we will disregard any disclosed cancer diagnosis where all of the following circumstances apply. An application for decreasing term assurance in association with a mortgage will not be rejected, nor will a higher premium apply, in relation to the cancer condition, if:
- The application is for a new individual decreasing term life cover only (single life / dual life / joint life).
- The application is for a policy in connection with a mortgage on the applicant’s principal private residence. A principal private residence is where the applicant lives most or all of the time.
- The amount of life insurance is the lesser of the mortgage amount or €500,000 per applicant.
- Treatment for cancer ended more than seven years prior to their application or more than five years if the applicant was under 18 at the time of diagnosis. Treatment has ended means being in “complete remission” and “active treatment” having ended seven or more years prior to the date of the application where the cancer was diagnosed when the applicant was aged over 18; and having ended five or more years prior to the date of application where the applicant was aged under 18 at time of diagnosis. Read more.
Mortgage protection is a type of life insurance. It helps secure the ownership of your home by helping to clear your outstanding mortgage if you die, or if selected, if you are diagnosed with a specified serious illness, within a specified term. Life insurance is protection for the term of the insurance cover. If you die during the term of the policy, the insurance company will pay a tax-free sum to your beneficiaries.
There are no tax benefits to be gained from mortgage protection, but with income protection tax deductibles are available.
Yes. If you get a mortgage you are required by the lender to have mortgage cover in place.
Mortgage protection is not the same as payment protection insurance (PPI). PPI is a type of income protection and with PPI you are covered for repayments on finance such as a shorter-term loan. Mortgage protection only covers mortgage payments.
If you pay off your mortgage before your mortgage protection policy expires, you can cancel your mortgage protection cover.
Learn more about mortgage protection
Everything you need to know before applying for mortgage protection
Guide to buying a house in Ireland
All the costs of buying a house in Ireland
1National Consumer Services Award, 2025
2Zurich Life is owned by Zurich Insurance Company Limited, which has an internationally recognised financial strength rating of AA/stable† by Standard & Poor's, January 2025.