Decreasing Life Insurance
Decreasing Life Insurance is designed to pay out a cash sum to help pay off your mortgage if you die during the length of the policy. Meaning your loved ones could continue to live in the family home without worrying about the mortgage.
- 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.
- Designed to pay out a cash sum if you die during the length of the policy.
- The premiums won't go up, unless you alter your policy.
And premiums can start from £6 per month.
At no extra cost we include additional benefits which give you even more protection and offer you extra peace of mind, such as Terminal Illness Cover and Accidental Death Benefit. Terminal Illness Cover could pay out the full amount of cover when life expectancy is less than 12 months. Terms and conditions apply.
- This is not a savings or investment product and has no cash value unless a valid claim is made.
- You may want to check that the length of the policy is long enough to cover the duration of your mortgage term.
- For Life Insurance, your policy may not completely pay off your outstanding mortgage unless you ensure that your amount of cover is adjusted to match any new mortgage arrangements.
- For Decreasing Life Insurance you must also check that the interest rate applied to your mortgage does not become higher than the interest rate applied to your policy.
- Please read thePolicy Summary (PDF: 1610KB) and Life Insurance with Critical Illness Cover Policy Booklet (PDF: 2152KB)