What is mortgage life insurance?

Mortgage Life insurance usually takes one of two forms, namely Level or Decreasing, as explained on the links to the right.

It is important to ensure that you have the right cover for your needs. Life insurance for protecting a Repayment Mortgage usually comes in the form of a Decreasing Term Assurance policy. Whereas, Life insurance for protecting an Interest Only often comes in the form of a Level Term Assurance policy.

Although, any type of Life cover policy would suffice if it pays out enough money to settle the outstanding debt in the event of death.

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