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? Life insurance with critical illness will pay out before you die if you are diagnosed with a critical illness

? Level cover pays out a fixed amount if you die.
Decreasing cover pays out less over time, usually in line with your outstanding mortgage.


? Choose how long you would like your policy to last. If you are not sure, enter an estimate (e.g. 10 years).
? Choose how much you would like to be paid out if you die.

? Guaranteed premiums are fixed for the term of the policy. Reviewable premiums can be changed depending on your circumstances.








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Decreasing term life insurance is also called mortgage life insurance. This is because it is designed to pay off your outstanding mortgage should you die during the term of the insurance. This will take the pressure off your dependents, who will no longer have to pay off the mortgage.

It is called decreasing term because the amount paid out if you die decreases over time. This should be in line with your outstanding mortgage, so that the amount paid covers at least the outstanding mortgage amount.

Most mortgage lenders will either insist, or strongly recommend, that you have decreasing term life insurance when you take out a mortgage, but most lenders will recommend their own policies – which are often much more expensive than they need to be. If you do not have anyone to leave your property to, and no dependents, then there may be no need for a policy at all.

Even people with dependents might consider level term life insurance instead since, as the outstanding mortgage balance decreases, this will leave an additional lump sum to dependents.

Like level term life insurance, it can technically be called decreasing term life insurance. This is because ‘assurance’ is for certainties, whereas ‘insurance’ is for possibilities. Although we are all certain to die, it may not be during the term of the policy, so many sources refer to it as insurance rather than assurance.

Our team can provide you with a range of quotes depending upon your requirements, so you can then make the right decision.

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