Decreasing Life Insurance Help protect the home your family love. Premiums from £6 a month. Find out more Get a quote Our Decreasing Life Insurance Cover details Key documents FAQs News and articles What is Decreasing Life Insurance? When buying a home, it's not uncommon to consider mortgage life insurance. Our Decreasing Life Insurance is a type of insurance that's designed to help protect a repayment mortgage. It could pay out a cash sum if you die or you're diagnosed with a terminal illness with a life expectancy of less than 12 months, during the length of your policy. With this type of insurance, the amount of cover reduces roughly in line with the way a repayment mortgage decreases. How does Decreasing Life Insurance work? With our Decreasing Life Insurance, a cash sum could be paid out if you die or are diagnosed with a terminal illness with a life expectancy of less than 12 months, while you're covered by the policy. The cash sum could be used by your loved ones to help pay off an outstanding mortgage. You can choose the amount of cover you need and how long you need it for. If you’re using Decreasing Life Insurance to help protect a repayment mortgage, it’s important to make sure that the amount of cover matches your outstanding mortgage. You have the option to take out a policy in joint or single names. Premiums start from only £6 a month depending on your needs and circumstances You have the option to add Critical Illness Cover for an additional cost Additional benefits are included at no extra cost when you take out this policy Do I need Decreasing Life Insurance? As with any insurance policy, whether you need Decreasing Life Insurance will depend on your circumstances. Our Decreasing Life Insurance is designed to meet the demands and needs of people who want to help protect a repayment mortgage. So if you’re looking for a policy that could help protect a repayment mortgage and give you peace of mind that your family can continue living in your home if something happens to you, this could be a suitable option. Our life cover calculator may be useful if you’re not sure if this is the right cover for you, or you could speak to your financial adviser. Get a quote Or call us on 0800 316 5591 8:30am to 8pm Monday to Friday 9am to 1pm Saturday We may record and monitor calls *After you take out life cover. Terms and conditions apply. Find out more. Cover details What's covered? You'll be covered if you die or if you're diagnosed with a terminal illness (with a life expectancy of less than 12 months) within the length of the policy. You can choose the amount of cover you need and how long you need it for. Premiums are guaranteed and will not change unless you make changes to the policy. Additional benefits are included at no extra cost, such as Free Life Cover and Accidental Death Benefit. Terms and conditions apply. You have the option to add Critical Illness Cover at an extra cost when you take out your life insurance policy. What's not covered? You won’t be covered if within the first year of the policy you die as result of suicide or intentional and serious self-injury, or an event where in our reasonable opinion, you took your own life. You won't be covered if your terminal illness does not meet our definition. See the Policy Booklet PDF for more information. You won't be covered if your payments aren't up to date Important information Life cover is not a savings or investment product and has no cash value unless a valid claim is made. If your Decreasing Life Insurance is to cover your mortgage, the policy may not completely pay off your outstanding mortgage unless you make sure your cover amount is adjusted to match any new mortgage arrangements. You must also check that the interest rate on your mortgage does not become higher than the rate applied to the policy. The rate will be shown in your Personal Quote or the Policy Booklet Read the key documents below and the important information page for full details. Key documents - please read before you apply Policy Summary PDF : 1021 KB Policy Booklet PDF : 3459 KB Decreasing Life Insurance explained in 90 seconds Decreasing Life insurance FAQs Am I eligible to apply for Decreasing Life Insurance? Can I make any changes to my Decreasing Life Insurance? Can I add Critical Illness Cover to my Decreasing Life Insurance? Will I be eligible for the free gift? Can I cancel my policy if I no longer need it? View all FAQs Related information and products Critical Illness Cover Get extra protection with Critical Illness Cover which can be added for an extra cost when you take out your life insurance policy. Critical Illness Cover Additional benefits When you take out our Decreasing Life Insurance we include a number of additional benefits at no extra cost, such as Accidental Death Benefit. Terms and conditions apply. Find out more Life Insurance If you're looking for life cover that doesn't decrease over time to help protect your family or an interest only mortgage, take a look at our Life Insurance where the amount of cover stays the same throughout the length of the policy. Find out more Why use Legal & General Award Winning Provider **Voted Life Insurance Provider of the Year (Direct) Moneyfacts Consumer Awards, 2020 & 2021. Expert Rated Our Life Insurance Plan has been 5 Star Rated. The UK’s No.1 Life Insurance Provider *Based on new individual Life Insurance sales in 2020, Term & Health Watch report 2021, Swiss Re. News and articles Life insurance calculator Use our life insurance calculator to help you work out how much cover you might need. Life insurance calculator Life insurance news and guides From information about different types of life insurance to articles about looking after your health and well-being - check out our wide variety of articles and guides. Making life insurance quotes easier Getting life insurance quotes is one of those things that probably gets pushed to the bottom of the list. You may think it's going to be too complicated or time-consuming or you simply keep putting it off because it's not something you want to think about. Ready to get a quote? Get a quote Call us on 0800 316 5591 8:30am to 8pm Monday to Friday 9am to 1pm Saturday We may record and monitor calls. Here to help with your Coronavirus questions We understand you might have questions or concerns about COVID-19 (Coronavirus) and the effect on your finances, so we’ve put together some answers to common questions and useful information to help give you answers. 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