Irish Life Mortgage Protection Review (2026)

If you’re here, I’m assuming you’ve already got a rough idea of what mortgage protection does.

No?

That’s fine.

Head over to this First Time Buyer Mortgage Protection Guide to get up to speed.

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So, you’re finally buying a home.

You’ve survived the viewings, the bidding wars, and you’re ignoring that weird smell in the ensuite.

Now the bank says you need to buy mortgage protection.

Good news, you don’t have to buy it from your lender, even if they make it sound like you do.

Let’s break down Irish Life mortgage protection, what it does, what it costs, and whether it’s actually any good.

What is Irish Life Mortgage Protection?

It’s a life insurance policy that clears your mortgage if you die before the mortgage ends.

The cover reduces over time, broadly in line with your mortgage balance.

And the price is fixed for the term of the policy.

How much does it cost?

Premiums start from €13.13 per month (including the 1% government levy).

Your actual premium will depend on:

• Age
• Mortgage amount
• Term
• Health
• Smoker status

You can get an instant quote here.

Quick approval (and where it falls down)

Irish Life say they approve 70% of applications within 24 hours.

That’s true.

But only if everything is straightforward.

The moment anything crops up, a GP visit, tests, or something ongoing, the timeline can slow down significantly.

This is where people get caught, especially close to drawdown.

Optional add-ons

Specified illness cover

This pays a lump sum if you’re diagnosed with one of the listed serious illnesses, for example cancer, heart attack or stroke.

There are also smaller payments for a range of additional conditions.

Irish Life sit somewhere in the middle of the market here, not the strongest, not the weakest.

Children’s cover

• Irish Life: €7,000
• Aviva & Royal London: €5,000
• New Ireland: €4,000
• Zurich: None

If you add specified illness cover, your children are automatically included.

Children are covered from birth, which is one of the stronger features of Irish Life compared to other insurers.

Key features worth knowing

Guaranteed insurability

If you have a child, get married or move house, you can increase your cover without medical questions.

That’s useful if your health changes down the line.

Conversion option

With the ‘Guaranteed Cover Again’ option, you can switch to a new policy in the future without going through underwriting again.

Terminal illness benefit

If you’re diagnosed with a terminal illness, Irish Life will pay out early.

The condition is that a consultant must confirm a life expectancy of less than 12 months, which can be difficult in practice.

Good news for cancer survivors

Irish Life follow the Insurance Ireland Code of Practice.

This means that people who have been clear of cancer for a number of years, typically 7+, may be eligible for up to €500,000 of mortgage protection at standard rates.

That’s a positive step compared to how things worked in the past.

So… should you go with Irish Life?

Short answer: sometimes yes, sometimes no.

Irish Life is the largest provider in Ireland. They’re well established, they pay claims, and they’re a safe pair of hands.

But that doesn’t automatically make them the best option for you.

Irish Life is a good fit if:

• You’re completely healthy and want a straightforward setup
• You value strong children’s cover
• You want flexibility to increase cover later without medical questions

I’d think twice if:

• Price is a priority, they’re often not the cheapest
• You have any medical history, other insurers can be more flexible
• You’re simply following the bank’s recommendation without comparing options

This is where most people go wrong.

“The bank suggested it, so it must be the best option.”

It’s not.

It’s just the easiest option for them.

One thing most people don’t realise

Insurers don’t assess risk in the same way.

One insurer might offer standard terms.

Irish Life might increase the premium.

Once you apply and get a decision, that can follow you.

That’s why applying to the right insurer first matters more than most people think.

If you apply to the wrong insurer first, you might still get cover.

But it may be more expensive than it needed to be

That’s the bit most people never see.

Want a quote?

You can compare quotes from Aviva, New Ireland, Royal London, Zurich and Irish Life here.

Final thoughts

Irish Life’s mortgage protection is solid, but it’s often more expensive than other providers.

Many Irish banks are tied to Irish Life, which is why it can feel like it’s being pushed on you, sometimes as part of the One Plan (see our review)

But you do have a choice.

• You don’t have to buy from your bank
• You can and should shop around
• And if you want help, we’ll explain it properly without the sales pitch

Complete our quick mortgage protection questionnaire

We’ll check all insurers, do the legwork, and recommend what actually suits your situation.