What is Decreasing Life Insurance?

When buying a home, it's not uncommon to consider mortgage life insurance. Our Decreasing Life Insurance is a type of insurance that's designed to help protect a repayment mortgage. It could pay out a cash sum if you were to pass away while covered by the policy or if you were diagnosed with a terminal illness provided life expectancy is less than 12 months. With this type of insurance, the amount of cover reduces roughly in line with the way a repayment mortgage decreases.

With the rising costs of living, many of us are finding we have less disposable income so having cover in place could mean your loved ones get to stay in their family home without the worry of mortgage payments after you're gone.


How does Decreasing Life Insurance work?

You choose the amount of cover you need and how long you need it for. If you’re using Decreasing Life Insurance to help protect a repayment mortgage, it’s important to make sure that the amount of cover matches your outstanding mortgage. You can take out a policy in joint or single names. 

Here are some great reasons to choose us:

  • Fixed monthly premiums from £5, depending on your circumstances, so you can plan ahead - no surprises!
  • No-one covers more families in the UK than us** (based on new life insurance sales).
  • We paid £478 million in life claims in 2021, that's 97.9% of claims paid.
  • Get a quote online in 2 minutes, you could be covered in just 20.
  • Option to add Critical Illness Cover when taking our your policy
  • Wellbeing Support. We've partnered with RedArc Assured Limited to bring you access to our new Wellbeing Support service. Their registered nurses provide a wide range of phone-based wellbeing services, supporting your wellbeing and mental health. Find out more.