Mortgage Protection or sometimes referred as Decreasing Term life insurance is a Life insurance policy where your cover amount goes down or ‘decreases’ in line with your repayment mortgage.

If you don’t die before the mortgage protection policy ends and you want to stay covered, you will need to take out another form of life insurance policy.

A Mortgage Protection policy is exactly that – it simply provides financial cover for your mortgage in the event that you pass away before you finish paying it off.

This means that your family won’t be left in financial difficulty in the midst of trying to continue paying the mortgage off and instead have peace of mind knowing that the mortgage and family home is taken care of.

Mortgage Protection policies are cheaper than a level term policy and are suitable for those looking to cover their mortgages as their main concern.