How is Mortgage Life Insurance different from Life Insurance?
The main difference is that it offers decreasing cover.
Mortgage Life Insurance is the best solution
if you have a Repayment Mortgage, as the cover you are
paying for decreases in line with the capital you owe on your mortgage.
This reduces the cost of your insurance and makes it especially cost effective.
If you have an Interest Only Mortgage that
you wish to cover, or you want life insurance that isn’t associated
with a mortgage, you should stick with ordinary Life Insurance.