Mortgage Protection Insurance in Ireland is designed specifically to cover the balance of your mortgage in the event of your death, ensuring that your loved ones aren’t burdened with monthly mortgage payments during a difficult time. Unlike General Life Insurance, which provides a predetermined lump sum to beneficiaries upon the policyholder’s death, Mortgage Protection Insurance directly settles your outstanding mortgage debt. This direct application of benefits is especially valuable for those who want to ensure their family can retain their home without financial strain. Additionally, Mortgage Protection policies may include features such as a Specified Illness cover, which allows a lump sum to be paid out if you’re diagnosed with a serious illness covered by your policy, helping with mortgage payments and other expenses during your illness.