What is Decreasing Life Insurance?

Decreasing Life Insurance is designed to help protect a repayment mortgage so the amount of cover reduces roughly in line with the way a repayment mortgage decreases.

How does Decreasing Life Insurance work?

It could pay out a cash sum if you die or are diagnosed with a terminal illness (life expectancy is less than 12 months) while covered by the policy. The amount of cover you choose will decrease throughout the length of your policy.

You choose the amount of cover you need and how long you need it for. You can take out Decreasing Life Insurance in joint or single names and you can pay your premiums monthly or annually.

  • Premiums start from only £6 a month depending on your needs and circumstances
  • Option to add Critical Illness Cover for an additional cost
  • Additional benefits included at no extra cost when you take out this policy

Who needs Decreasing Life Insurance?

It will depend on your own needs and individual circumstances and we don’t provide personal recommendations. Our Decreasing Life Insurance product is designed to meet the demands and needs of people who want to help protect a repayment mortgage. If you'd like more help our life cover calculator may be useful or speak to your financial adviser.