Knowing that your mortgage will be fully repaid in the event of your death is absolutely vital if you have children, crucial if you are buying a property in joint names and important if you are buying on your own, not least for your peace of mind!

No one likes to think about such things, and of course we all hope and assume this won't happen to us. However, without such cover in place the financial consequences for your dependants if you were to die could be devastating. The last thing you would want is to leave them struggling to make ends meet. At the very least you should have life cover in place which would clear your mortgage debt if you were to die within the selected term.

Decreasing Term Assurance is the lowest cost life assurance, and as the name suggests, is generally taken in order to provide a lump sum, on the death of the policy holder (can be in joint names) in order to fully repay a Capital & Interest (Repayment) mortgage. The sum payable on death reduces in line with a mortgage over the chosen term.

With Level Term Assurance the sum assured remains at the chosen level for the selected term, and is therefore useful for protecting an Interest Only mortgage where the mortgage debt does not reduce over time.

Many people also effect Level Term Assurance in order to provide a lump sum for their family in the event of death, up to the point where their children reach 21 and are unlikely still to be financially dependant upon them.

The low cost of buying life cover really does make it a "must have" if you have a mortgage, and is a sensible way of protecting your family's financial health.

For further guidance or for a no obligation quote, please contact us today, or complete the Life Quote Form and submit.

These policies produce a lump sum on death or (in some cases) on diagnosis of a terminal illness within the selected term, but have no cash in value at any time and therefore have no investment value.