Decreasing Term Life Insurance Cover that reduces with your mortgage

Decreasing term insurance is designed for mortgages. The payout reduces over time as your loan balance decreases.

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How Decreasing Term Works

Cover designed specifically for mortgages.

Reduces Over Time

The payout decreases throughout the policy, matching your reducing mortgage balance.

Lower Premiums

Because the payout reduces, decreasing term is typically cheaper than level term insurance.

Perfect for Mortgages

Designed to pay off a repayment mortgage if you die. Your family keeps the home with no debt.

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How It Works

Getting insurance quotes is simple. Here's how the process works.

Complete the Form

Answer a few simple questions about yourself and the level of cover you're looking for. It only takes a couple of minutes.

Receive a Callback

A specialist broker will call you back to discuss your requirements and answer any questions you may have.

Compare Your Options

The broker will present quotes from leading insurers so you can compare options and choose the cover that's right for you. There's no obligation to proceed.

Decreasing vs Level Term Life Insurance

Feature	Decreasing Term	Level Term
Payout	Reduces over time	Stays the same
Monthly cost	Lower premiums	Higher premiums
Suited for	Repayment mortgages	Interest-only mortgages
Cover at end of term	Minimal	Full original amount
Terminal illness	Included free	Included free

A broker will call to discuss which option suits your mortgage type.

Frequently Asked Questions

Common questions about decreasing term life insurance.

Decreasing term life insurance is a policy where the payout reduces over time, typically at a rate of 6-8% per year. It is designed to match the reducing balance of a repayment mortgage.

Because the insurer's risk decreases each year as your payout reduces. With level term, the insurer carries the same risk throughout the entire policy.

It is most commonly used for mortgages, but it can also be useful for any debt that reduces over time, such as a personal loan.

Yes. Critical illness cover can be added for an additional premium. The critical illness payout also decreases over time in line with the life cover.

Your policy can continue until the end of the term. If you no longer need the cover, you can cancel it at any time.

Yes. Joint decreasing term insurance covers both partners on one policy. It pays out on the first death, giving the surviving partner funds to clear the mortgage. A broker will call to compare joint and single policy options.