Mortgage Repayment Cover

A mortgage is a large and important financial commitment so it can make sense for you to protect it. Mortgage repayment cover is designed to cover your repayments should you become involuntarily unemployed, fall ill or if you have to leave work to care for a relative. During these difficult times, our cover will give you security and peace of mind.

When applying for a mortgage you have the option to select Mortgage Repayment Cover. Full details including exclusions are set out in the policy booklet.

Bank of Ireland Insurance Services can provide you with more detailed information.

Call 1890 604 604

Features
Rates
Terms and Conditions

Cover to suit your individual needs

You can choose from one of our two tailored options:
Option A - Disability and involuntary unemployment cover
Option B - Disability cover

If you need to make a claim, our mortgage repayment cover will:

Pay your monthly repayment while you are out of work for up to 12 months up to a maximum of €3000 per month
Provide you with a monthly repayment even if you are still receiving a salary from your employer
Assist in maintaining cash flow if you are self-employed
Pays two monthly benefits after 60 days - back dated to the first day you were absent from work.

As with all insurance policy there are eligibility criteria and some exclusions for claiming. Please see policy booklet for full details (PDF, 459KB).

To read these files you will need the Adobe Acrobat Reader, which is available free of charge from Adobe's Website. Download PDF reader.

Mortgage Repayment Cover is available through Bank of Ireland Insurance Services Limited. Bank of Ireland Insurance Services Limited is a member of the Bank of Ireland Group.

Bank of Ireland Insurance Services Limited is regulated by the Central Bank of Ireland.

Bank of Ireland Insurance Services Limited is tied to Genworth Financial for the purpose of selling Payment Protection Insurance.

Financial Insurance Company Limited (FICL), trading as Genworth Financial, is authorised by the Financial Services Authority in the UK and is regulated by the Central Bank of Ireland for conduct of business rules.

Mortgage Repayment Cover is underwritten by Financial Insurance Company Limited (FICL), trading as Genworth Financial. ICS Building Society is regulated by the Central Bank of Ireland. Bank of Ireland and Bank of Ireland Mortgage Bank, trading as Bank of Ireland Mortgages, are regulated by the Central Bank of Ireland. Cover is subject to underwriting requirements and terms and conditions apply. A full list of terms, conditions and exclusions are contained in your policy booklet.

Rates

Mortgage Repayment Cover costs €6.52 per €100 per month for Option A and €5.10 per €100 per month for Options B on your selected amount you wish to cover

If at any time your mortgage repayments change, you have the option to alter the level of your Mortgage Repayment Cover. Bank of Ireland Mortgage Repayment Cover can only be used if you have an active Bank of Ireland Mortgage.

Refunds and Cancellation

If you are not satisfied with your cover, write to or contact Genworth Financial within 30 days of the commencement date. Your cover will be cancelled from the commencement date and any premium paid will be refunded in full.

Thereafter, you may cancel your Mortgage Repayment Cover at any time. Please write to or contact Genworth Financial, P.O Box 602, Shannon, Co Clare. On receipt of the request, the cancellation will take effect from the next monthly renewal date.

Download Mortgage Repayment Cover Policy Booklet (PDF, 516KB)

How to claim

Terms and conditions apply

If you need to make a claim, you can obtain a claim form from Genworth Financial whose telephone is +353 61 737 373 or alternatively write to: Genworth Financial PO Box 602, Shannon, County Clare.

Complaints procedure

We set ourselves high standards, but if you are not satisfied with our service please tell us. If you follow the procedure set out below, we will deal with your complaint in the most efficient way possible.

Step 1: Please contact Genworth Financial PO Box 602, Shannon, County Clare

Step 2: If you are still not happy or the problem has not been resolved to your satisfaction, you may refer it to the Financial Services Ombudsman's at 3rd Floor, Lincoln House, Lincoln Place, Dublin 2. Lo-call 1890 88 22 90

If you complain it will not affect your legal rights.