Mortgage life insurance

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What is mortgage life insurance and how does it work?

Mortgage life insurance is typically bought to cover a mortgage, so in the event of your death your loved ones can pay off your outstanding mortgage. You may have also heard it called decreasing term life insurance

The amount you are covered for decreases over the term of your policy, similar to the way a repayment mortgage decreases. Typically, mortgage life insurance is cheaper than a level term policy but you can get quotes for both and decide which best suits your needs.

When you buy a house your mortgage lender may attempt to sell you life cover. You’re under no obligation to buy from them, so take the time to compare life insurance quotes and find a policy that best suits you.

Things to consider

When deciding whether you want to buy level life insurance or decreasing term life insurance, it might be worth considering:
  • If you don't have any dependents, you might want to just make sure your mortgage is covered
  • If you do have a family, it could be worth considering a level term life insurance policy to not only cover your mortgage, but also leave your family a nest egg to help them maintain their standard of living after you've gone
  • Do you have other financial commitments like loans or credit cards you'd want included in the amount the life policy would pay out? If you're not sure of the total value of your financial commitments, try our mortgage life insurance calculator to get a better idea of how much cover you'd need

Why might I need it?

There are a number of different reasons you could choose to buy mortgage life insurance. As with any type of life cover it's often a very personal decision, but some of the typical reasons could include:

  • So your dependents could pay off any remaining mortgage debt if the worst were to happen to you
  • Some lenders will ask for you to have a policy in place when you're buying a house 

If you’re still not sure which type of cover is right for you, why not read our guide to policy types before you get a quote.  If you're looking for a more enhanced level of cover, you could look at mortgage life insurance with critical illness cover; you are able to include this option when you get a quote.  

Mortgage life insurance and critical illness cover are quite different.  A life policy pays out if you die during the term of the policy, whereas critical illness cover pays out if you develop a critical illness that the provider covers during the term of the policy.  For more information on critical illness cover, take a look at our guide 'What is critical illness life cover?'.

Why buy mortgage life insurance from

Mortgage life insurance is straightforward to buy as its main objective is to help pay off an outstanding mortgage repayment, in the event of a death.

We offer several different ways to get a quote:

  • Get a quote online at Click ‘get a quote’ to get started

  • Get a quote over the phone, call our UK-based call centre on 0800 652 9754
    (Mon-Thurs: 9:30am - 8pm | Friday: 9:30am - 1pm)

  • Request a call back from a life insurance specialist. Complete this simple form 

With you can compare quotes from up to 10 providers across the UK including big brands like Aviva & Legal & General.

Still unsure which type of policy you want, or just looking for more information? 
We have some guides that might help you:

Get a quote online 

Need help? Talk to our UK-based specialists

Or call 0800 652 9754

Confused Life is arranged and administered by Direct Life & Pension Services Ltd, who are authorised and regulated by the Financial Conduct Authority. Registered office; 2nd Floor Gateway 2, Holgate Park Drive, York, United Kingdom, YO26 4GB. Registered in England and Wales No 2467691. Our service is free and compares a wide range of trusted household names. is an intermediary and receives commission from Direct Life & Pension Services Ltd which is based on a percentage of the total annual premium if you decide to buy through our website. We pride ourselves on impartiality and independence – therefore we don't promote any one insurance provider over another.