The smart choice for mortgage protection. As your mortgage decreases, your cover decreases - saving you money.
Decreasing Term Insurance (also called Mortgage Decreasing Insurance) is designed specifically to protect repayment mortgages.
As you make mortgage payments over time, your outstanding balance decreases. Your life insurance cover decreases in line with this - meaning you only pay for the protection you need.
If the worst happens, the payout will be enough to pay off what's left of your mortgage, ensuring your family can stay in their home.
Get a free quote and see how much you could save with Decreasing Term Insurance.
The payout decreases over time, so the insurer's potential liability reduces. Since the likelihood of a claim decreases as your mortgage gets paid down, the premiums are lower.
No, Decreasing Term is designed for repayment mortgages where the balance goes down over time. For interest-only mortgages, Level Term would be more appropriate.
You can usually transfer the policy to a new mortgage or increase the cover to match a new property. Contact us to discuss your options.