Understanding life cover
Mortgage Protection, Level Term
Mortgage Protection, Decreasing Term
This will decrease over the term, usually to match your decreasing mortgage amount, and pay out the current amount when a claim is made.
Both of which are designed to pay out a lump sum if you die during the policy term. The amount of life cover selected will either remain level throughout your selected plan term or decrease in line with the mortgage. If you wish to, you can request that benefits increase in line with inflation.
Whole of Life Cover
- To meet an Inheritance Tax Liability
- To cover your funeral expenses
- To protect your financial dependents on death