Decreasing Term Assurance
Decreasing Term Assurance is as it sounds a reducing level of life cover over a certain period or set number of years chosen by you from the out set.
You simply choose the level of cover you need to start with and this cover reduces in size over your chosen number of years. It is normally cheaper than Level Term Assurance because the life assurance pay out is less as the policy gets older. It is used mainly to cove a repayment mortgage (capital & Interest ) It can be referred to as Mortgage protection if used for this - but it could be used for a number of other covers. Like Term Assurance - Decreasing Term Assurance has with certain companies a series of add-ons, such as, Critical Illness Premium Protection Terminal Illness Conversion and Index options. You should really decide which one is suitable for you so a careful study of the key features brochure is essential.
For a quick Decreasing Term Assurance illustration, fill in your details on the right. Click 'apply for quotation' for your personal Decreasing Term Assurance Quotation.
Quick Life Insurance Quotation
