Mortgage Protection Insurance post illness

J

Jody

Registered User
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85
Any advice here would be great.
I have had Cancer and I am now in remission over 3 years.
I am hoping that in a few years when things settle that perhaps we might like to move house but I am not sure we can get insured.
As a family in our 30's I could not opt out if God forbid something happened I could not know my family would be left with a mortgage burden alone.
I am also curious about the ability to move the original ( pre cancer ) policy to a new house and perhaps getting a new top up one for the difference where I was not insured if the lender would agree to that......
Thanks
 
First of all, happy to hear you're in remission & well done getting through what must have been a tough couple of years.
Your first port of call should be to find out what type of policy you currently have. If it is a mortgage pretction (decreasing) life policy then you won't be able to change it to the new mortgage level but if it is a convertible term policy, for example, you will be able to change the cover without providing further medical evidence. If you can't change the existing policy than you need to shop around. Some companies are a lot better than others on medical underwriting. A broker will be able to call around the u/w departments on your behalf and give a good idea how they will react to your application. Best of luck.


http://www.powerinsurances.ie
 
Occasionally some policies have "increase options" built in that allow you to increase cover within certain limits to match a new or increased mortgage, regardless of your health. Check with the life assurance company or broker to see if your policy has this.
 
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