8th May 2015
THANKS BUT NO BANKS!
Its great to get your mortgage loan approved by you bank but do not be lured into thinking that you must do your Mortgage Protection Insurance Policy with them..Here are the reasons why..
There is no legal or similar diktat that says you have to go with the bank that provides you with your mortgage for your mortgage protection life insurance …they may subtly infer otherwise!
All the banks deal with only one insurance companye. AIB, Ulster Bank , the EBS & KBC Bank are tied solely to Irish Life. Bank of Ireland is tied to New Ireland..In short you are not getting quotes from the whole market like Low.ie provide.
As a result of only dealing with one life company , banks are always more expensive than us. Don’t forget mortgage loans tend to be for long periods e.g. 25 years so a saving of even €10 a month on your premium equates to €3k ..better in your pocket than theirs!
All the life companies in Ireland are financially very strong, have been here many years & have excellent claims records….Don’t let anyone mislead you to think otherwise!
Getting a mortgage is a stressful process ( we know!) so when curved balls like ‘ You are best getting your mortgage life insurance from us as assignment of another company’s life policy could take three weeks’..IGNORE as it will take no longer than three working days and can be done even quicker.
If your bank dares to cast aspersions on the suitableness of a friendly , hardworking , customer friendly , cost effective, Central Bank regulated entity like Low.ie ( that have just happened to save their customers over €3m+*)….think of the €65 billion we pumped into them as tax payers to ensure they could survive?
Some of our providers offer additional benefits not available from the banks life company providers. For example Aviva offer their superb ‘Best Doctors’ benefit that is available not only to the individual(s) who take out the policy but also at no cost to their children, their parents and their in laws or equivalent!
If perchance a bank is misinformed enough think that by going online you cannot get the same level of financial advice…..Remember all our advisers are Qualified Financial Advisers and they are available by phone , text , email or whatever suits to deal with all your concerns & queries plus all our recommendations re levels of cover etc must be totally in line with the Central Bank guidelines.
Do BREAK (from) the Bank & Go Low Now * Savings against the lowest prevailing life company price by the way