Life and Decreasing Life Insurance
OUR ASSESSMENT
A major protection option where the cover basis should follow the purpose: a fixed family amount and a repayment mortgage are different needs.
Features to compare
- Level term retains the insured amount; decreasing cover reduces broadly in line with a repayment mortgage.
- Critical Illness Cover can be selected for an additional cost when arranging life cover.
Limitations and checks
- Decreasing cover is not designed to preserve a fixed family lump sum. Confirm the mortgage assumptions and terminal-illness definition.
The question to ask
Would the decreasing benefit remain sufficient for my mortgage balance?
Before arranging cover
Use the current policy wording and your quotation schedule to confirm these points. Our assessment is desk research, not a first-hand claims test or a personal recommendation. We have not assigned a product score or established comparable claims-service performance.
Sources & further reading
Checked 2026-09-27. Policy terms and source ratings can change.
Provider information checked 2026-09-27. The linked provider information supports the product summary; the assessment and questions are Coverwell editorial analysis. Availability and accepted terms depend on the quotation.
