It depends on what you are looking to protect.
If you are looking to give your family a cash lump sum so they can pay off an Interest Only mortgage, continue to live and pay bills, send your child or children to private school, or for Inheritance Tax Liabilities then generally a Level Term Assurance maybe best. If, however you have a repayment mortgage you may opt for a “Decreasing Term Assurance” which pays a cash lump sum. A decreasing policy is designed to decrease in line with your mortgage providing your interest rate on your mortgage does not increase above a certain percentage, typically 8% or 10% depending on the policy you have chosen.
There are many types of life insurance so why not speak to one of our experts to get the right insurance policy for you