Level Term Life Insurance provides a fixed amount of cover for a specific number
of years. It is often used with an
- since the mortgage is not paid off over time, so the amount of cover needs
to remain the same for the duration of the mortgage. To keep the price down,
all the money you pay is used to provide the cover for you. This means that
you won't get any money back if you decide to cancel the policy. It also means
you can't ever 'cash in' this type of policy.
If you have a
and don't want extra cover,
then Mortgage Life Insurance may be better for you.
If you are not sure what type of cover you need, please contact the SmartMole
team for help.
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