Who is Decreasing Term Life Insurance for?
Designed for those who require less cover over time, Decreasing Term Life Insurance is the cheaper alternative to Level Term Life Insurance, and can provide cover for debts such as mortgages and long term loans, where you are likely to require less cover as the debt reduces over time.
What is Decreasing Term Life Insurance?
Reviti Decreasing Term Life Insurance can be used, for example, to help your family pay the mortgage if you die.
This policy decreases like a repayment mortgage or other debt, which means that your payout reduces over time.
Which Life Insurance policy is right for me?
Life Insurance can be confusing, but Reviti makes it simple. Our handy guide will take you through the different types of policies that will suit your needs.
What does Decreasing Term Life Insurance cover?
Providing a lump sum for your loved ones if you die within the term of the policy. The payout of Decreasing Life Insurance reduces over time as your financial commitments reduce. The majority of people use this if they have a repayment mortgage.
How does Decreasing Term cover work?
Cover amount decreases
Monthly payment stays the same
Years of cover
You’ve got questions. We’ve got answers.
How do I know how much Life Insurance cover I need?
You’ll need to consider a few things, like any specific lump sum you’d like to leave, how old your children are and how long they may be financially dependent on you, how long before you retire, your mortgage or rent commitments and other debts.
What type of cover do you offer?
You can choose between decreasing cover or level cover. Decreasing cover reduces over the term and is often used to protect against a repayment mortgage, so as you pay off more of your mortgage (and therefore owe less to your bank or building society) the amount of Life Insurance reduces. Level cover will pay a set lump sum that will not change during the term of the policy.
Life’s too short to waste time on long forms, it takes just 10 minutes to get covered.
The legal bit
Read the Key Facts and Terms & Conditions of Reviti Term Life insurance
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Reviti Term Life Insurance can only be purchased by UK residents over the age of 18 years old - this does not include the Channel Islands or the Isle of Man.