Who Can be Covered?

Single cover
This policy only provides coverage for one individual. If this person passes away during the policy’s term, the coverage sum will be paid to their estate or lender, whichever they choose.

Dual Cover
This insurance provides coverage for both parties independently on one policy. Currently, with some providers in Ireland you can get Dual Cover for the same price as joint cover, so double the cover for no extra charge! For example, €200,000 Dual Cover plan has the potential to pay out €400,000, €200,000 for each life.

Joint Cover
This policy provides coverage for two persons. but will ever payout on one life only. For instance, “Joint Life, First Death” will pay on the death of the first person to die and then the plan will end. For example, a €200,000 Joint Life plan has the potential to payout a maximum of €200,000  only.

Read more:

1. 1. Do I Have to Take Mortgage Protection from the Bank?
2. 2. How Long Does it Take to Take Out Mortgage Protection With Financial Life?
3. 3. What if I Have an Interest Only Mortgage?