Table of Contents
10-second summary: New Ireland is a solid, reliable mortgage protection option with strong pricing and dual life cover. But it’s not always the best choice — especially if there are any medical considerations.
Editor’s Note: First published June 2022 | Fully updated April 2026
I do love a good review article, and if you’re shopping around for mortgage protection, this one’s worth a read.
Next in the firing line: New Ireland’s mortgage protection policy.
New Ireland isn’t a flashy multinational like Aviva or the financial fortress that is Irish Life. But they’ve been around since 1918 and are part of the Bank of Ireland Group.
Solid. Reliable. Low-key legit.
They offer life insurance, income protection, pensions, and investments, but today we’re concentrating on their mortgage protection offering.
If you and your partner take out a joint life policy, the insurer only pays out once.
Dual life can pay out twice – once on each death (grim, yes, but you might as well get value for money!)
New Ireland often prices their dual life cover very competitively, sometimes the same as joint life, which makes it worth serious consideration.
See how dual life cover works here.
New Ireland will match quotes from other insurers for similar cover.
That sounds ideal, but there’s a catch.
A matched price doesn’t always mean the best result.
If you’ve had any medical issues, another insurer may assess you more favourably, even if the headline price looks similar.
Let’s say the lowest price in the market is €30.
New Ireland is happy to price match that, but because of health issues, it increases that €30 by 200%, giving a final premium of €90!
You would have been better off with an insurer who had a higher base price of €40 but only increased it by 100% = €80
That’s why the insurer you apply to matters more than most people realise.
Complete this quick questionnaire and I’ll check all insurers properly before you apply.
If you move house, get married, or have kids, you can increase your cover without new medical questions.
Handy – but similar options are available at other insurers.
New Ireland is strong when it comes to speed.
In straightforward cases, decisions can often be made instantly, with policies issued the same day.
That’s great if your application is clean and you’re under time pressure to draw down.
But if there are any medical questions — and that’s where we tend to come in — speed becomes much less important than getting the right decision from the right insurer first time.
This is their lifestyle rewards package:
Nice to have — but it shouldn’t be the reason you choose an insurer.
New Ireland’s specified illness cover is strong.
But I usually don’t recommend adding it to mortgage protection.
If you claim, the payout goes to the bank, not you.
It could be.
But the real question is this:
Is it the best insurer for your situation or just the one you’ve come across first?
Because once you apply, that underwriting decision sticks.
Get it wrong, and you can limit your options without realising it.
If you’re comparing providers, it’s worth looking at how New Ireland stacks up against insurers like Zurich, Royal London, Irish Life and Aviva.
If you want to get this right first time:
Fill in the questionnaire here and I’ll check all five insurers before you apply so you don’t get stuck with the wrong decision.
Or if you prefer, book a quick call here.
Written by Nick McGowan, QFA RPA APA
Nick is a qualified financial advisor and founder of Lion.ie, a multi-agency Irish life insurance and income protection brokerage based in Tullamore.
He’s been helping people secure fair, transparent cover for over 15 years and was named Protection Broker of the Year 2022.
If you’d like straight answers without the sales pitch, learn more about Nick here.
As Ireland's leading life insurance broker, we specialise in comparing the rates and policies from the top five Irish life insurance providers and offering the very best value quotes to suit the individual needs of our clients. Our expertise lies in finding a suitable insurance plan for those with specific needs, be it a particular illness, occupation or claim history, we've got you covered in every sense!
Watch our video
