AIB Mortgage Protection Plan

This product can be one of the most economical ways our customers can put life assurance cover in place. The amount of financial cover you put in place at the outset reduces over the term of your policy (this is because the amount owing on the typical mortgage also reduces over the mortgage term). The affordable plan can be used to help your family or dependents repay debts, should you or your partner become deceased.

Who does this plan suit?

Borrowing money to buy your own home is the largest single financial commitment that you will probably ever make. So, it is important to ensure that, if you die before the mortgage has been fully repaid, sufficient life assurance will be paid out to clear it. That is what the AIB Mortgage Protection Plan is designed to provide.

You can also complement your AIB Mortgage Protection Plan with specified illness cover which is designed to provide a cash sum to pay off your mortgage should you suffer a specified illness*.

A summary of the benefits

• Provided you have sufficient cover in place, your mortgage will be automatically paid off in the event of your death during the term of the Plan.
• Should you choose to add specified illness cover to your plan, there will be a benefit paid if you are diagnosed and certified with a specified illness* or if you die.
• Specified illness cover automatically includes a valuable extra benefit called Best Doctors®, a service which can provide an expert medical review should you be diagnosed with a serious medical illness?.
• Your life assurance or combined life and specified illness cover will reduce each year ? so you only pay for the cover that you need.
• If you arrange a joint mortgage, the Plan can cover both people.
• There are favourable terms for non-smokers.
• You can arrange additional cover if you increase or extend your mortgage in the future, subject to certain limitations**.
• AIB offers a free review of your financial plans, to check that they are still on course to satisfy your overall financial needs ? and, in light of any changes in your circumstances or requirements, to advise you how to arrange any additional cover that you may need.

* Please refer to the specified illness cover section for a list of those illnesses covered by the plan as at September 2009.
** For full terms and conditions of each of these features and for eligibility please arrange an appointment with an AIB Financial Adviser who will explain the features, terms and conditions in full
? Please contact your local AIB branch, where an AIB Financial Adviser can provide you with a detailed brochure on Best Doctors®

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