A decreasing life insurance policy is generally used to repay a capital and repayment mortgage in the event of death.  The sum assured decreasing over the term of the policy which is aligned to the term of the mortgage.  As the mortgage is repaid (the balance reducing) so does the decreasing term life insurance.

 

You should also consider reviewing your existing life insurance policies to ensure you and your family have adequate protection.  It may be that you have changed the term of your mortgage or increased the amount you have borrowed and you could find that your existing policy is no longer fit for purpose.

 

Our Protection specialist will be happy to discuss your Life insurance requirement and provide a no obligation quote.