Family life insurance or mortgage life insurance?
When you apply for Saga Term Life Insurance you have the choice between life insurance, often called family life insurance, or mortgage life insurance
- A family life insurance policy offers level cover only, where the amount you are covered for stays the same throughout the policy term (unless you alter your policy).
- Mortgage life insurance gives you the option of level or decreasing cover. Decreasing cover means the amount you are covered for decreases over the term of the policy, roughly in line with a repayment mortgage.
- If you choose a mortgage life insurance policy you will receive some additional benefits (see additional benefits section below)