mylife.ie Blog
Mortgage Protection & Life Insurance Ireland
Plain-English articles from Donal Milmo-Penny QFA FLIA — Research Lead at mylife.ie, with more than twenty years of Irish financial services experience.
June 2026
Specified serious illness in Ireland — the conditions list, partial payments and what is actually covered
Specified serious illness policies cover a defined list of conditions, each tied to a severity threshold and partial-payment carve-outs for less advanced stages. Cancer accounts for 60–68% of paid claims; offices differ on the definitions.
Life insurance cost in Ireland 2026 — what actually drives the premium and the spread between offices
A healthy 35-year-old non-smoker pays €20–30 a month for €300,000 of 30-year term cover in 2026. Premiums scale with age, smoker status, sum assured and term. Office-to-office spread on identical risk is 15–20%.
How much life insurance does a family in Ireland actually need
The sum assured is a choice — the right number is the one where what is ideal for your family meets what is affordable for the household. Term, indexation, joint vs single life, and covering the second adult.
Mortgage protection and life insurance in Ireland — two complementary benefits
Mortgage protection clears your home loan on death and is required by your lender. Life insurance pays your family directly and replaces lost income. They are complementary benefits, kept as separate policies, and most households with dependants benefit from both.
Why life insurance claims get declined in Ireland — and how to make sure yours is not one of them
The 1–3% of Irish life-cover claims that are not paid almost always trace back to the application form. The dominant cause is material non-disclosure under the Consumer Insurance Contracts Act 2019 §16 — and the fix is upstream of the claim.
Mental health and life insurance in Ireland — what the 2025 claims data shows
Psychological causes drove 26% of new Irish income protection claims in 2025 — the single largest category. A mental-health history does not prevent cover in 2026; it changes the application, and Irish statute sets out how it is assessed.
Specified serious illness cover in Ireland — why the cheapest policy is rarely the best
Serious illness paid rates across Ireland's five life offices ranged from 87% to 93% in 2025 — a spread driven by policy wording. A whole-of-market read on cancer, heart attack, stroke and MS definitions, and where the wording actually pays.
Best Irish life insurance company in 2026 — what the 2025 claims data actually shows
There is no single best Irish life office. The five regulated offices cluster on life-cover paid rates (97–99%) and separate meaningfully on specified serious illness (87–93%). What the whole-of-market 2025 claims data actually shows.
Irish life insurance claims 2025: €919m paid — and what the numbers actually mean
The second annual whole-of-market study of Irish claims experience. The five Irish life offices paid more than €919m across 18,200+ claims in 2025, up 8.4% on 2024 — and the headline life-cover percentage is still the wrong number to focus on.
May 2026
How much mortgage protection do I need? Calculating sum assured, term and indexation in Ireland
Your sum assured must equal your mortgage amount at drawdown, and your term must match your mortgage term exactly. Here's the step-by-step sizing guide — with worked examples for first-time buyers, remortgages and self-builds.
Joint life, dual life or two single-life mortgage protection policies in Ireland: which structure is right for you?
Couples can structure mortgage protection as joint life (one payout), dual life (up to two payouts), or two separate single-life policies. Here's how each works, what it costs and when each is the right choice.
Mortgage protection assignment to the lender: the Deed of Assignment explained
Between policy issue and mortgage drawdown sits one legal step most borrowers have never heard of — the Deed of Assignment. Here is what it does, who does what, and how mylife.ie gets it over the line.
Mortgage protection with a pre-existing condition: what to disclose and how it's priced in Ireland
Irish law requires you to answer the insurer's questions honestly — but not to volunteer beyond what is asked. mylife.ie's Health Gate matches your profile to the best-fit insurer without creating a formal application record.
Mortgage protection for self-employed, contractors and side-income applicants in Ireland
Self-employment does not automatically raise mortgage protection premiums. Your occupation class, not your employment status, drives any loading. Most office-based contractors pay standard rates.
Mortgage protection with the conversion option: why it's worth it in Ireland
The conversion option lets you convert your mortgage protection to a new policy later without fresh underwriting. For borrowers with health concerns, it can be the most valuable clause in the contract.
Mortgage protection for smokers and ex-smokers in Ireland
Smokers pay roughly double non-smoker rates. Ex-smokers qualify for non-smoker premiums after 12 months smoke-free. Here's how to get the best rate at your current status.
Mortgage protection over 50 in Ireland: cover, cost and the alternatives
Cover is available over 50 but premiums rise steeply with age. We cover the statutory exemption, the alternatives, and how to keep costs manageable on a shorter remaining term.
Refused mortgage protection in Ireland: what to do next
A refusal from one insurer does not mean you cannot get cover. Underwriting criteria differ across the five Irish life offices — and there are specialist routes for declined cases.
Do I have to take mortgage protection from my bank in Ireland?
No. Under Section 126 of the Consumer Credit Act 1995 your bank must ensure cover is in place — but the Consumer Protection Code prevents them insisting you buy from them.
What is the difference between mortgage protection and life insurance in Ireland?
Mortgage protection is a decreasing-term policy assigned to your lender. Life insurance is a level policy paid to your family. Two different products for two different jobs.
How much does mortgage protection cost in Ireland in 2026?
Monthly premiums range from roughly €10 for a young healthy non-smoker to over €80 for an older borrower with declared conditions. The six cost drivers explained.
Cheapest mortgage protection in Ireland — how to actually find it
A five-step methodology for finding the personally cheapest policy. The cheapest for a 30-year-old non-smoker is not cheapest for a 45-year-old smoker with a declared condition.
Which Irish life office pays the most claims?
In 2024 the five Irish life offices paid more than €847.7m in protection claims. Life-cover paid rates cluster at 98–99%+; serious illness rates range from 82% to 92.5%.
Can I get the safest and cheapest mortgage protection policy?
Yes. All five Irish life offices are CBI-regulated under Solvency II. Safety is a pass/fail threshold all five clear — the real variable is price.
What does 'limits tables' mean on a serious illness policy?
The schedule buried in your policy document that determines whether a claim pays — and how much. Early-stage prostate cancer might pay 25%; an advanced diagnosis pays 100%.
Can I switch my mortgage protection without losing my cover?
Yes — Irish term assurance has no exit fees. The rule is absolute: never cancel the existing policy until the new one is confirmed in force in writing.
Do I need a medical exam for life insurance in Ireland?
Most applicants under 40 with no declared conditions and sums under €500,000 get same-day cover. A GP report, nurse exam, or full medical is triggered by specific factors.
What is dual life cover and when does it make sense?
Dual life insures each partner independently and pays once on each death. It belongs on a separate, unassigned family-protection policy — not bolted onto mortgage protection.
April 2026
What is the cheapest mortgage protection in Ireland in 2026?
There are five Irish mortgage protection insurers. The cheapest varies by applicant — here's how each provider stacks up, and how to find your personal lowest price.
How much does mortgage protection cost in Ireland?
What drives premiums, illustrative examples by age and mortgage size, and how to get a quote that reflects your actual circumstances.
Can I switch mortgage protection from my bank?
A 7-step switching guide for Irish homeowners — including how to keep continuous cover, what to tell your lender, and why even small monthly differences matter.
Do I need mortgage protection for my mortgage?
What Irish law actually requires, what mortgage protection covers, the four statutory exemptions, and how to choose cover that fits your circumstances.
Best mortgage protection broker in Ireland — why whole-of-market matters
What "whole-of-market" actually means in Ireland, what to look for in a regulated broker, and the questions to ask before you sign.
Compare the market
mylife.ie compares all five Irish life offices on price and policy quality. Every case reviewed by a QFA. No exclusive deals.
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