Life insurance provides level cover if you die during the length of the policy
Life insurance is usually a policy that provides level cover if you die during the length of the policy. In other words, the amount of cover stays the same until the policy ends. If you’re no longer around, it can provide protection for a mortgage, and indeed any purpose, such as:
Decreasing Life Insurance is a type of life insurance where the cover decreases over the length of the policy. It’s designed to protect a mortgage that reduces over time, so it’s often used to protect a repayment mortgage. For that reason it’s sometimes referred to as ‘mortgage life insurance’.
Just remember that life insurance is not a savings or investment product and has no cash value unless a valid claim is made.
Contact our Commercial Team on:
Telephone number: 01158 400 700
Email: paul.chillman@brownbevan.com