Questions & Answers
What is Mortgage Repayment Protector?
What is my monthly benefit?
Why do I need Mortgage Repayment Protector?
How much does it cost?
Am I eligible?
Can I apply if I am unemployed?
How much will I get?
What is the maximum monthly benefit?
How long can I claim for?
Who is there to help if I need to make a claim?
How do I know when I can claim?
Will you require medical evidence if I claim?
Will you need to see my medical records if I claim?
Are my claim details confidential?
Do I continue to pay the premium when claiming?
When and who do I need to notify of any claim?
Can I claim more than once?
What events are not covered?
Who underwrites Mortgage Repayment Protector?
What is Mortgage Repayment Protector?
Mortgage Repayment Protector is an insurance policy that will cover your mortgage repayments if you as an employee are unable to work and remain so for 30 days or more due to an accident, sickness or being made redundant. Should you be self-employed you will be covered for accident, sickness, financial insolvency or if your company becomes bankrupt and you are unable to work for a period of 30 days or more.
What is my monthly benefit?
This is the amount chosen by you to cover your monthly repayment under the mortgage, and any other mortgage related outgoings (such as an Endowment policy), which shall not exceed €2,000 in total. Please note that customers cannot over insure their monthly repayments.
Why do I need Mortgage Repayment Protector?
In the event that you are unable to work for a period of 30 days or more due to illness, an accident or being made redundant or bankrupt, under the terms of the Mortgage Repayment Protector you can claim your chosen monthly mortgage benefit.
How much does it cost?
Mortgage Repayment Protector (MRP) costs €6.15 per month per €100 of your monthly mortgage repayment.
If your monthly repayment was 800, it would cost you €6.15 x 8 = €49.20 per month.
Am I eligible?
To be eligible you need to be at least 18 and less than 65 years of age, have been in full-time employment for at least 6 months immediately prior to the policy start date or self-employed for at least 2 years immediately prior to the policy start date and have the right to reside, work, and live in Ireland.
Can I apply if I am unemployed?
No, you must have been in full-time employment for at least 6 months immediately prior to the policy start date or have been self-employed for at least 2 years immediately prior to the policy start date.
How much will I get?
Mortgage Repayment Protector will cover your chosen monthly mortgage payment, up to the maximum of €2,000.
What is the maximum monthly benefit?
The maximum monthly benefit you will be covered for is €2,000 regardless of the number of policies you may have with us.
How long can I claim for?
An amount equal to your monthly mortgage benefit will be paid after the initial 30 days if you are out of work due to an accident, sickness or you are unemployed. Thereafter, you will be entitled to an amount equal to the monthly mortgage benefit for each consecutive 30 day period that you remain sick or disabled resulting from an accident or unemployment, up to a maximum of 12 monthly payments.
Who is there to help if I need to make a claim?
Cardif Pinnacle claims help-line 1850 946 213 is available between 9am and 6pm on weekdays to help you with any claim queries.
How do I know when I can claim?
As soon as you think you might need to claim, call the Cardif Pinnacle Claims help-line on 1850 946 213.
Will you require medical evidence if I claim?
Yes, should you be claiming for an accident or sickness we will require information from your Doctor. Your Doctor may charge you for this information.
Will you need to see my medical records if I claim?
Possibly. We employ Medical Advisors to help assess each claim. If they feel that further information is required, we may need to ask your Doctor to provide more information. If we ask for any additional information from your Doctor then we would pay the costs of getting this.
Are my claim details confidential?
Ordinarily only our claims staff and medical advisors will have access to claim details. We may, however, also be required to share this information for the detection and prevention of fraud.
Do I continue to pay the premium when claiming?
Yes, as you pay a monthly premium, if you do not pay the premium then your cover will lapse. Mortgage Repayment Protector allows you to claim more than once; therefore, you will need to continue paying your premiums even if you are currently claiming.
When and who do I need to notify of any claim?
Should you need to make a claim you need to notify Cardif Pinnacle at the earliest opportunity. Cardif Pinnacle must receive a claim form within 90 days of the claim occurring.
Can I claim more than once?
You may make a further claim for accident or sickness if it is:
- for an unrelated condition if you have returned to work for 1 month;
- for the same or related condition if you have returned to work for 6 months following the previous accident or sickness claim
You may make a further claim for unemployment or if you become financially insolvent as long as you have returned to full-time employment for 6 consecutive months after your initial claim.
What events are not covered?
As one would expect, there are going to be times when this Mortgage Repayment Protector is unable to cover you. A summary of the main exclusions follows:
Accident or Sickness benefit will not be paid if your accident or sickness results from:
- a self inflicted injury;
- being under the influence of, or being affected by, alcohol or drugs unless prescribed by a doctor;
- any condition of a mental or nervous origin including stress, anxiety or depression, unless the condition is certified by and under the continuing care of a consultant psychiatrist specialist;
- backache or a related condition without supporting medical evidence;
- cosmetic or other elective surgery;
- AIDS or HIV;
- any condition, which you knew about, ought reasonably to have known or received counselling or treatment for in the 12 months immediately prior to the policy start date about, or which arise within 30 days of the policy start date.
Redundancy benefits will not be paid if:
- you were aware at the policy start date that you would be made redundant or you had reason to believe this would occur or if this occurs within the first 90 days (new borrowers) or 180 days (existing borrowers) of the policy start date;
- you were not in full-time employment for at least 6 months immediately before your first claim for unemployment;
- you resigned or accepted voluntary redundancy or unemployment;
- your work was seasonal, casual or temporary, or unemployment is a regular feature of your work;
- it results from any misconduct, fraud, dishonesty or any act carried out by you.
Financial Insolvency and Bankruptcy benefit will not be paid if:
- you were aware at the policy start date that you would be made bankrupt or insolvent or you had reason to believe this would occur, or if this occurs within 90 days (new borrowers) or 180 days(existing borrowers) of the policy start date;
- you accepted voluntary bankruptcy;
- it results from any misconduct, fraud, dishonesty or any act carried out by you;
- your work is seasonal, casual or temporary or for a specific job or task;
- you were not in self-employment for at least 2 years immediately before your first claim
Who underwrites Mortgage Repayment Protector?
Mortgage Repayment Protector is underwritten by Pinnacle Insurance plc, a company registered in England and Wales under registered number 1007798, and registered head office is at Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire, WD6 2XX, United Kingdom. Cardif Pinnacle is part of one of the world's largest banking groups - BNP Paribas. Cardif Pinnacle is a trading name of Pinnacle Insurance plc. Pinnacle
Please note: These are frequently asked questions which are only a summary of the full terms and conditions. For full terms and conditions please read the policy document