Mortgage protection is an increasingly popular form of life insurance
that is designed specifically for use with mortgages or other
high value long term loans.
Mortgage protection is also known as decreasing term assurance,
because the amount of cover decreases over the term of the policy,
though your premiums will continue to be paid at the same amount
throughout.
This kind of policy can be used to pay off any outstanding loans
which also decrease over time, such as a repayment mortgage. Alternatively,
you can use this type of protection to cover a potential inheritance
tax liability.
