Decreasing Term Assurance

The lump sum payout on offer with decreasing term assurance, as you might guess, decreases in size over time. The advantage of the reducing life cover under this type of policy is that premiums are likely to be lower too. Decreasing term assurance is also described sometimes as mortgage protection assurance. It is commonly used to protect the repayment of a reducing debt - such as a repayment mortgage, a loan, school fees etc. Some policies may offer a waiver of premium option.  Whole of Life Level Term Convertible Term Assurance Family Income Benefit
CURRENT BANK RATE 0.5% Next Due