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What is the main difference between decreasing term insurance and level term insurance?

A decreasing term insurance policy is used to provide life cover for a Repayment (Capital & Interest) mortgage. With a decreasing term insurance policy, the sum assured reduces in line with the mortgage balance every month and is designed to last for the term of the mortgage.

A level term is used to provide life cover; the sum assured stays the same for the duration of the plan. This plan can be used to repay a mortgage debt and provide a legacy for loved ones.

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