There are a few policies available to you:
- Level term insurance gives you a fixed level of cover and pays out a lump sum if you die within the term of the policy.
- Mortgage life insurance (or decreasing term life insurance) is where your cover reduces over time, roughly in line with a standard repayment mortgage.
Matt Lloyd, head of life insurance at Confused.com explains exactly the different types of life insurance that are available is in this short video.
You can also take out a joint policy, rather than two individual policies, if you're getting insured with your partner.
Find out more:
If you'd like to know more about the pros and cons read our guide joint life policies.