Is Mortgage Protection Enough? Why You Might Need More Coverage
Buying a home is one of the most significant financial steps you’ll ever take. Along with the excitement comes a lot of responsibility, and that’s why mortgage protection insurance is required by lenders in Ireland.
Mortgage protection does an important job: if you pass away during the term of your mortgage, the policy pays off the outstanding balance. That means your family doesn’t have to worry about losing the roof over their heads at an already difficult time.
But here’s something many people don’t realise: mortgage protection only covers your mortgage. It doesn’t provide any extra money for your family’s everyday needs, education costs, or future plans. That’s where life insurance comes in
