COVID-19: 3-Month Mortgage Protection Payment Waiver


COVID-19 Three-Month Mortgage Protection Payment Waiver

If you’re taking a 3-month mortgage payment break, you can also take a 3-month mortgage protection waiver as long as you have a non-unit linked mortgage protection policy with Bank of Ireland or New Ireland Assurance. During this time your cover will remain in place and you will not have to repay these premiums at any stage in the future.

Payment waiver criteria

We are delighted to offer this mortgage protection payment waiver to customers who meet the following criteria:

  • You have a non-unit linked mortgage protection or term assurance policy assigned to a mortgage;
  • You’re paying your mortgage protection premium monthly by direct debit. Please note, if you are not paying your mortgage protection premiums by direct debit, we still have payment options for you. Please contact us for more information.
  • You’ve been granted a mortgage payment break from your lender and can provide evidence of this;
  • Your policy must be in force on or before the 1st of March 2020.
  • Your mortgage protection policy is with Bank of Ireland Life or New Ireland Assurance.

Extended mortgage protection payment waiver

  • We are pleased to inform you that if you have been granted a further payment break on your mortgage by your lender, we will also waive your mortgage protection payments for a further three months. This means that you could have your mortgage protection payments waived for a total of six months and you will not be required to repay your premiums at a later date.

This Mortgage Protection offer has been extended until the 30th of September 2020.

Bank of Ireland Life reserve the right to withdraw this offer at any time

Terms and Conditions apply. If we agree to make a change that you request, we are assuring you that we will not be enforcing the terms of your policy, if the policy provides otherwise and in so far as the terms of the policy apply to the change requested and made by us. It is important to understand however the options being presented to help you in the short term are not to be taken as a general waiver of Bank of Ireland Life’s rights under the policy in the future. Policy conditions will continue to apply in full and the rights and obligations of both Bank of Ireland Life and the policyholder will remain the same under the policy.