Mortgage Protection Assurance
This is also called decreasing term assurance. It was designed to protect repayment style mortgages and is the most cost effective type of life assurance. The idea is that the sum assured decreases each year in line with your mortgage balance.
Level Term Assurance
The sum assured stays level and doesn’t decrease throughout the term of the policy. This is perfect for interest only mortgages and loans.
Increasing Term Assurance
The amount of cover can also increase throughout the term of the policy. This can, for instance, protect your lump sum against being eroded by inflation. This cover is more expensive than level and decreasing term.
Family Income benefit
Rather than providing a lump sum on death, this can supply a yearly income to your family, tax free.
There are many more ways we can tailor your policy to your needs: by writing it into trust for a quick payout, guaranteeing your premiums or including critical illness or income protection cover.
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