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Mortgage Decreasing Life Assurance
You
can cut the cost of mortgage life assurance potentially saving
you over £6000 over the term. |
| Mortgage
decreasing life assurance pays a lump sum to cover the mortgage
debt in full, if you die during the term. It’s ‘decreasing’ because
the mortgage debt and therefore the potential payout decreases
in time. |
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It’s worthwhile
as it ensures your dependants need not worry about paying
off the mortgage, plus most lenders strongly recommend it.
Unfortunately many people are automatically sold over-expensive
policies when getting a mortgage, a case of don’t say
no and it’s included.
It’s purely
a case of the cheaper the better. Crucially, Mortgage Decreasing
Life Assurance has no investment element as the pay out simply
covers the mortgage and there’s no argument over whether
someone has died. |
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