Mortgage Decreasing Life Assurance is used to cover a repayment mortgage where the amount you owe reduces as you repay it.

The premiums won’t change during the lifetime of the policy but the amount that will be paid when you die will reduce starting from the amount of cover you specify, and ending at zero by the end of the term.

When a Decreasing Term Assurance policy expires, it has no value. This means that if you do not die within the term, you will not receive any money back.