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Decreasing Term Assurance

Decreasing Term Assurance (Mortgage Protection with or without Critical Illness Cover) below is a rough guide but it is not an exhaustive definition.

If you select not to receive advice on decreasing term assurance, we are not responsible for the appropriateness of the product that you might choose or the level of cover chosen and consequently you will not have recourse to the Financial Ombudsman Service. We can advise on Decreasing Term and provide Assurance comparisons from a wide range of assurers.

Decreasing Term Assurance (Mortgage Protection with or without Critical Illness Cover)

Decreasing Term Assurance (Mortgage Protection with or without Critical Illness Cover)

This type of policy is designed to produce just enough cover to repay the reducing liability of a repayment mortgage over one's full mortgage term. With repayment mortgages one repays mainly interest in the early years and therefore one's outstanding capital will only reduce slowly at first. Decreasing Term Assurance is a form of life that cover takes account of this factor and correspondingly reduces at a similar slow rate in the early years.

Since these policies are providing reducing cover they are much cheaper than policies providing level cover.


One may also select critical illness cover as an additional benefit - please see critical illness section for a rough guide.

You can take out this policy on a single life, joint life first death or life of another basis.

Be aware that many critical illness policies are reviewable. This means that if the overall claims experience of a company over their bank of policyholders, are greater than expected they can increase the premiums across the board to all policyholders. This means that companies can try to buy business with low premiums, only to increase them in later years. Because of this hazard the cheapest reviewable quote may not prove to be such good value as a guaranteed critical illness quote.

The minimum premium you can pay is normally about - £5.00 per month.


Save On Mortgages Life Assurance quotes saving you time and money by helping to find you the best quote direct from the main life assurance companies in the market including:

Life Assurance quotes saving you time and money, whole market mortgage brokers searching providers including: Norwich Union, Legal & General, Scottish Widows, Friends Provident and Scottish Equitable to name but a few.

Life Assurance rates are constantly changing and you may be paying more than you need to, find out by doing a free no obligation quote, it costs you nothing but could save you ££££'s.


All quotes are free and you are under no obligation to proceed further
Whatever we do for you, we will not charge YOU a fee for our services !

Authorised and regulated by the Financial Conduct Authority, Save On Mortgages is a trading style of Save On Limited

Home insurance, also known as Household insurance or Buildings and Contents insurance, provides protection against loss or damage of your property. Protecting this investment against fire, flood, theft and other risks is essential to ensure that you have the necessary financial assistance available, so that you can carry on with life.