To assist consumers who have a pre-existing illness and are attempting to obtain life cover for mortgages, Brokers Ireland has today launched a register of 170 brokers who are available to help those experiencing difficulties.
Financial Brokers can help consumers through their knowledge of the underwriting criteria of the five main life offices in Ireland and can advise them on which provider and product meets their needs.
“We are delighted to have a very broad geographical spread of brokers available to help consumers who have difficulty in obtaining cover. We very much welcome the new Code of Practice by Insurance Ireland that will improve access to mortgage protection insurance for cancer survivors.
“We are delighted to be contributing as brokers and help smooth the pathway for those impacted,” Rachel McGovern, Director of Financial Services at Brokers Ireland said.
The new Insurance Ireland code provides cancer survivors with more options to attain mortgage protection whereby insurers do not take into consideration a cancer diagnosis during underwriting assessment in situations where treatment ended more than seven years prior to an application for cover, or more than five years where the applicant was under age18 when treatment stopped.
Cover of up to €500,000 can be provided with a mortgage on a principal private residence.
Ms McGovern said the Code covers minimum requirements with individual insurers having the ability to go beyond this.
The register is available on www.brokersireland.ie
