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What Is Decreasing Term Insurance?

If we assume that you have a capital repayment mortgage with 20 years to go, the mortgage liability will reduce as interest and capital is repaid month by month. Therefore, in this instance, it makes sense to look at decreasing term insurance where payment on death would follow the downward path of your mortgage liability.

As the life insurance payout would reduce the length, you live this gives scope for reduced premiums compared to traditional term insurance.

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