Paragraph 1 of the PRIVILEGES, PROVISIONS AND CONDITIONS (see Document 6C of Appendix 1/6) states :

‘The policy contains all the benefits, terms, privileges and conditions of the Contract of Assurance (the Endowment Mortgage Contract). No representations, benefits, terms, conditions or alterations shall operate to bind the Company (Irish Life Assurance) unless incorporated in the Policy or properly endorsed on the Policy.’

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Irish Life, by the above Condition attached to their POLICY, seek to exclude themselves from any liability resulting from the pre-contract Representations made by either Irish Life or First National (their tied agent).


To the consumer, aggrieved by the disparity between the Representations of the seller of such a Contract of Assurance and the contents of the end product sold, and motivated to do something about it, confrontation with such an ‘exclusion clause’ in THE POLICY Conditions would prove very intimidating. He would effectively be stopped in his tracks.


But Irish Life Assurance and First National know full well that such a Condition is legally UNENFORCABLE ––– because it is not FAIR AND REASONABLE. The condition is put there solely to dissuade the consumer (the borrower / investor) from seeking redress for MISREPRESENTATION ––– and it does.