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Mortgage Life Insurance


Decreasing Term Life Insurance policy or Mortgage protection Insurance

A decreasing term life policy is usually associated with the most cost effective method of protecting a repayment mortgage over its entire term. The policy works on the following basis the amount insured reduces in line with the amount outstanding on the mortgage, as repayments are made monthly and the capital outstanding reduces so does the amount of the insurance payout, this continues throughout the term of the mortgage until the mortgage is repaid in full and the policy will then be at an end.

Not recommended to provide financial security to dependants other than the mortgage would be repaid.


  • Often the most affordable option to cover mortgage debt
  • You can fully protect your mortgage debt
  • Will repay the whole mortgage debt
  • Critical Illness can be added to the policy
  • Normally runs to the same term as the mortgage
  • Joint policy opinion, (with your partner)

Things to consider

  • Only pays out if you die during the policy term
  • Cover reduces during the policy term in line with mortgage balance
  • If you cancel your policy, there is no cash-in value
  • Not suited to Interest-only mortgages

Just complete our online quotation request and we’ll do the rest or call us on 0800 540 4036

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