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Thank you so much to Mairead and Dimitra for helping us navigate the complexities of switching mortgage. It was a pleasure dealing with you both at all times. Your attention to detail and responsiveness were exemplary. Without your help and guidance we would have given up on the process. I would highly recommend Doddl to anyone considering a switch.
We would highly recommend Martina and all the team at doddl to any first time buyers. We were given a clear choice of the mortgage options available to us and we found Martina and her team extremely responsive and always got back to us very quickly during the whole process. Even with Covid-19 and our house being delayed everything was taken care of by Martina and we were able to draw down as soon as our house was ready.
Martina and the team were incredible with helping us move through the mortgage process as quickly as possible. As first-time buyers getting a mortgage can be daunting, but they took a huge amount of the stress out of it for us.
It was great to have someone to make the process so straight forward and stress-free.
I just want to say a massive thank you for making this happen for us! we would not be in this position only for you. I couldn’t recommend you enough to anyone and everyone 🙂 you have been such a God Send for us!
I would like to take a moment to thank you and the team in helping us secure this switch. Special call out to you Simon for your fantastic help and guidance all throughout and Moira / Caoimhe for your quick follow-ups and closing out.
Martina, thanks a million for all your help with the advice and helping me navigate through this whole process. I am forever thankful. It would’ve been impossible without you.
We are absolutely delighted. You were a godsend. Thank you for all your efforts over the last few months! We couldn’t have done it without you.
As first-time buyers, we had a lot of questions about the mortgage process but with the guidance of doddl, we found it straight forward from start to finish. Friendly, helpful and clear communicators, we would recommend anyone to use their services.
Life cover is a type of insurance policy that pays out in the event of the death of the policy holder.
The most common types of cover are Mortgage Protection and Level Term cover. You may also wish to take out Specified Illness cover or Income Protection to protect yourself and others in the event of illness or disability.
All mortgage providers require a life policy to be in place before allowing you to draw down a mortgage on a home loan. The life policy will be assigned to the mortgage lender while the mortgage is in place.
Mortgage Protection is a type of life cover insurance that is designed to clear a mortgage in the event of the policy holders’ death. The policy is designed to clear the outstanding amount of your mortgage. The amount insured decreases over the term of the policy. The monthly premium of the policy remains the same for the duration of the plan (unless indexation is selected).
Level term cover is a type of policy whereby the amount insured stays the same for the duration of the term. In the event of death, the policy will pay out the sum insured, if the policy is assigned to a mortgage lender the mortgage will be repaid from the proceeds of the policy and any further benefit will pay to the second person on the policy. If the life policy is in one person’s name, the remaining benefit will pay to their estate.
A Convertible option allows you to ‘convert the policy’ and extend the term of your policy, subject to terms but without medical assessment at time of conversion.
Life cover will pay out in the event of the policy holder’s death, however there are other policies that you can take out to further protect yourself and your family. These can provide additional protection if you are unable to pay your mortgage or bills due to an accident or illness. The most popular policies are Income Protection and Specified Illness cover.
Income protection is a policy that will pay out a regular payment that replaces part of your lost income if you cannot work due to a medium to long-term illness or disability. This is a taxable income paid in addition to any social welfare entitlement and you can claim tax relief on the premium.
It’s important to be aware of your employer benefits before considering any policy to ensure the cover you choose is appropriate for you. If your employer has a scheme that will pay you long term if you are out sick, then you will not need to consider an income protection policy. If your employer pays you for a period of time e.g., 3/6/12 months then you can consider an Income Protection policy that would start to pay you when your employer income ceases, if you cannot return to work.
You should enquire as to any employee benefit available so that you can understand any additional needs you may have.
Specified Illness cover is a tax-free lump sum that is paid out on diagnosis of a specified illness as defined in the terms and conditions of your policy.
This policy is designed to help you pay towards the cost of being sick. Your health insurance/public system covers the hospital costs but there may be other costs which can increase the financial burden when you’re sick. These may include time off, additional childcare, cost of travel to and from hospital, consultant fees not covered by health insurance, accommodation, parking, outpatient treatments/therapies.
A Specified Illness benefit will provide you with financial breathing space to allow you to concentrate on getting better and not worry about your finances.
Each person will have different needs and priorities but an average budget to consider is between 3% and 5% of the net income of the higher earner. It is important to have some cover in place but equally important to know that you can afford this for the long term and know that it is in place if you need to make a claim.
At doddl we can help you tailor a package that is personal to your budget and your needs and don’t forget, our service is free!
Complete ‘Get Quotes’ section for the best policy for you.
If you have any queries email us at firstname.lastname@example.org or call us on 01 6624600.