Your options

Legal & General offers two types of mortgage life insurance: Mortgage Term Assurance and Mortgage Decreasing Term Assurance.

• Mortgage level term means the amount you are insured for remains the same throughout the term of your policy, unless you choose to exercise your guaranteed insurability option.
• Mortgage decreasing term means the amount decreases over the term of the policy. This cover is designed to protect a repayment mortgage, so that the amount of insurance decreases roughly in line with your remaining mortgage debt. Your premiums will remain the same unless you excercise your guaranteed insurability option.

Both types of mortgage life insurance include Terminal Illness Cover at no extra cost. Read more about Terminal Illness Cover.

Extra cover options

You can choose to add these options to your Mortgage Term or Mortgage Decreasing Term Assurance policy:

• Critical Illness Cover This pays out a lump sum if you are diagnosed with one of the specified illnesses or disabilities and are eligible to claim. Cover for your children is included at no extra charge. Of course, there are terms and conditions and you should ensure you've read and understood them. Read more about the specified critical illnesses you can claim for and the limits of these claims.
• Waiver of Payment Premiums are waived if you suffer an illness or accident that stops you working for more than six months. Read more about Waiver of Payment.

Please note: it's not possible to apply for these extra options online. If you would like to add any of these extra cover options to your policy, please contact us.