Mortgage Protection Life Insurance

Mortgage Protection Life Insurance is often known as decreasing term assurance.

  • Mortgage Protection Life Insurance covers you for a set term and pays out a lump sum if you die during the policy term.
  • The benefits are reducing in line with a repayment mortgage
  • The monthly premium stays the same throughout the term of the policy although the benefit decreases
  • Mortgage Protection Life Insurance is cheaper than level term assurance
  • Waiver of premium can be added to the policy
  • Critical Illness cover can be added to the policy
  • The policy is purely for protection only and has no cash-in value at any time