- Cover a repayment mortgage
- Usually the cheapest form of cover
- Sum assured decreases over time
- Sum assured up to £1,000,000
- Term up to 40 years
- Cover from 20p a day

Decreasing term life insurance is a policy type typically used to cover a repayment mortgage.
The sum assured (pay out amount) and term length is specified during the application. Once the policy is active, premiums are paid each month.
Throughout the policy term, the value of the sum assured, decreases over time.
Therefore, the further into your policy you pass away, the smaller the pay out your loved ones will receive.
As a result, decreasing term cover is ideal for protecting a repayment mortgage; as the sum assured can be set to decrease in line with your mortgage.
The cover amount typically reduces each month or annually depending on your policy and insurer.
Watch our short decreasing term life insurance video.