Mortgage Protection Insurance
Mortgage protection insurance is known as decreasing term insurance.
Decreasing term insurance is a life insurance policy that pays out a lump sum in the event of the death of the policyholder during the term in which your policy runs.
However, the sum assured (the lump sum payed out) decreases over the term of the life insurance policy.
Mortgage Protection Insurance is often used to protect a capital and interest repayment mortgage, where the outstanding balance of the mortgage reduces each year.
Life Insurance
- Life Insurance - Intro
- Why should I consider buying critical illness cover?
- Which illnesses are covered?
- How do I compare critical illness cover policies?
- What is the cost of critical illness cover?
- Can I increase my cover after the policy starts?
- How do I make a claim?
- What is level term life insurance?
- What is mortgage protection insurance?
- What are critical illness policies?
- Will any exclusions apply to the critical illness cover?
- What types of critical illness policy are available?
- Who can take out critical illness cover?
- How do I apply for critical illness cover?
- What should I do if I want to complain?
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