Decreasing term assurance is designed to track a debt that reduces over time — most commonly a repayment mortgage. As the balance falls, so does the cover, which helps keep it cost-effective.
Tailored to your mortgage
The cover reduces in line with your outstanding mortgage over the term, so your family is protected from the remaining debt if the worst should happen.
Is it right for you?
Your repayment plan
Consider how the policy fits your mortgage repayment strategy and the protection it gives your family home.
Cost
Premiums are often more cost-effective than other forms of life cover, because the level of cover reduces over time.
Things to consider
Match the policy term to the remaining term of your mortgage. Some policies also offer extras, such as critical illness options or the ability to convert to other types of cover later on.
Important — please note
This article is general guidance, not personal advice. Cover, terms, limits and exclusions vary between policies and insurers, so always check the policy wording. Premiums depend on your individual circumstances.
For a recommendation based on your own situation, please get in touch.