FAQ – Mortgage Protection

If you require any further information or have other questions that are not listed below you can chat to one of our representatives live online. Click on the ‘Chat Now’ tab on the bottom of the screen to begin a live chat. Alternatively you can send an email to Info@theAAlife.ie or call us on 0818 3000 16.

How much cover do I need?
For new mortgages, you need to cover the amount you are borrowing over the term of your mortgage, i.e. if you are borrowing €320,000 over 25 years; then you will need cover for €320,000 over 25 years.
For an existing mortgage, you will need to ensure that you have covered the current outstanding balance on your mortgage for the remaining term of your mortgage. You can get this information from your mortgage provider. They will send you a statement every 12 or 6 months outlining the remaining balance on your mortgage. If you do not have this, just contact your mortgage provider and they will advise the amount outstanding and the remaining term.
What type of cover should I take for my mortgage?
The type of cover you need depends on the type of mortgage you have. If you have a capital and interest mortgage, sometimes called an annuity loan, where the amount you owe reduces gradually; you need a Mortgage Protection policy.
If your mortgage is “Interest Only”, where you are only paying the interest on the loan, then you need a Level Term Life Insurance Policy.
When should I apply for my Mortgage Protection Plan?
If you already have your loan and are looking to change life cover providers, you can apply at any stage.
If you are currently applying for a new mortgage, then you can apply up to 3 months before your loan is issued. If you have any health issues you may need to apply sooner. If this is the case contact us on 0818 300016 or email us at info@theAAlife.ie.
When do I need to have the Mortgage Protection Plan in place?
For new mortgages your lender will require the original policy document approximately 1 week before your loan is issued.
What if I need the cover in a hurry?
If you need the cover in a hurry, we suggest that you scan and email the application form/declaration and any other questionnaires requested. This will speed up any decision from Aviva Life & Pensions UK Ltd. Please also post the declarations to us, we would suggest you use swift post to ensure next day delivery. When returning your application you should mark your application “Urgent”. You can also Contact us on 0818 3000 16.
How do I apply?
  • Firstly you need to obtain a quotation online – Click “Get a Quote”
  • Enter your details and click “Get Instant Quote”
  • If you are happy with the quotation, click “Get this Quote”
  • Leave the rest to us!

I am replacing an existing policy, when should I cancel this?
You should not cancel your existing policy, until your new policy is in force. Please note if you are replacing an existing policy, either completely or partially, you must make sure that this new policy meets your needs and that you are aware of the financial consequences of replacing your existing policy. Please call us on 0818 3000 16 to discuss.
What if I need help with the application form?
You can email us at info@theAAlife.ie or call us on 0818 3000 16 from 9am until 5.30pm Monday to Friday. You can also contact us via our Live Chat option. We will be happy to help in any way we can.
How will I know what stage my application is at?
We will email you within 24 hours of receiving your application and regularly afterwards to keep you up to date on where your application is at. You can also contact us at any stage to get an update.
How long before I am on cover?
Usually it will take 5-7 working days from when we receive the original, fully completed application form & declaration. Some applications may be accepted on the same day! Existing health conditions may delay the process, for example if you have High Blood Pressure, Aviva Life & Pensions UK Ltd may look for a report from your GP, or they may ask you to attend a medical. Aviva Life & Pensions UK Ltd will pay the cost of any medical directly to your GP regardless of whether you proceed with the quote.
Will I need to do a medical?
Maybe! More often than not, the insurance provider will not require you to attend a medical, but in some instances they will. This is usually dependant on the level of cover that you are looking for and your age. If you have an existing medical condition Aviva Life & Pensions UK Ltd may look for a report from your GP, or they may ask you to attend for a medical. There will be no cost to you for the medical.
Can I claim tax relief on my Mortgage Protection Plan?
No. You cannot claim tax relief on a Life Insurance policy.
When will I receive my policy Documents?
Once the policy is accepted by Aviva Life & Pensions UK Limited you can confirm to us when you want the policy to start. Once received, we will send you the original documents in the post. This typically takes 3 days. We will also email a copy of the documentation to you.
What if I change my mind?
When you receive your policy documents, you are entitled to a 30 day cooling off period. This allows you to cancel your policy and you will receive a full refund of any premiums paid.
Will my premiums increase?
No. Your premiums will never increase on your Mortgage Protection Plan providing no changes are made to your cover during the term.
Can I cancel my policy?
Yes. You can cancel your policy at any time. If you stop paying premiums, your policy will lapse and your cover will cease. There is no cash value at the end of this plan. Please note if your policy is to cover your mortgage, then you will need to get the mortgage providers permission to cancel the policy.