Mortgage Protection

How can I protect my home?


A Mortgage Protection Insurance policy is designed to help repay your mortgage if you were to die or be diagnosed with a critical illness.

What is decreasing term life insurance?

To protect your mortgage in the event of your death, you will need a decreasing term life insurance – ideal for covering a repayment mortgage or loan.

A repayment mortgage decreases over time, therefore the life insurance you need should be one which decreases too.

Much like level term life insurance, decreasing term also has many options including:

  • Critical Illness Cover
  • Waiver of Premium
  • Family Income Benefit

WSW Financial Services are experts in Decreasing Term Life Insurance (known as Mortgage Protection). Enquire now to find out more and get a quote from the Whole of Market

Decreasing Term Insurance Explained

Lump sum is payable on the event of death. This lump sum decreases by a fixed amount during the period of the term, decreasing to nil by the end of the insured period.

This form of cover is usually used for mortgages or other loans where the amount owed decreases year on year.

There is no investment element with decreasing term life insurance, as such if no claim has been made there is no maturity value payable at the end of the term.

Premiums will depend on the sum to be insured, the period of insurance cover, your age, your sex and whether you smoke or not. A non smoker is usually defined as someone who has not smoked for at least twelve months.

Additional options can be added to increase the level of cover, although this in turn increases the premiums.