Mortgage Protection
Decreasing Term Assurance policies (also known as Mortgage Protection) provide life cover to protect a decreasing debt. Generally it is taken out to run alongside a Repayment Mortgage to protect the capital outstanding.
The sum assured reduces over the term of the policy (in a similar way that the debt on a Repayment Mortgage reduces over time). The monthly premium remains unchanged during the term of the policy.
Additional features can be added to this type of policy such as 'waiver of premium', at a small additional cost per month. In the event that you are unable to work due to illness or injury 'waiver of premium' will ensure your premiums continue to be paid.
Critical Illness can be included in these policies.