If you have a repayment mortgage we have a decreasing cover option that pays out a decreasing amount over time – similar to the way a repayment mortgage balance reduces.
If you have an interest only mortgage, your mortgage amount stays the same until you repay it all at the end of the mortgage term. Level cover can help to protect this type of mortgage.
Please remember that this type of insurance only pays out in the event of death. It is your responsibility to have an appropriate repayment strategy in place to pay off the capital at the end of the mortgage term.