Decreasing Term Life Insurance

Protection for your family homeProtection for your family home

Could your family pay the mortgage if you weren't around? Our decreasing term life insurance is designed to repay the outstanding balance on your repayment mortgage if you die.

The amount of cover decreases in line with the outstanding balance on a standard repayment mortgage.This means you pay cheaper premiums than if you have a level term insurance policy, and your premiums are set at the start of the policy.

You can choose how much cover you need and how long you want it to last.

This product is provided by Friends Provident Life Assurance Limited.

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Great value life cover

  • Premiums start from as little as £5 a month
  • The option of joint cover for you and your partner
  • Cover can be used to cover a mortgage or loan
  • Cash payout for your family if you die during the policy term, providing you continue to pay your monthly premiums
  • Guaranteed premiums that will never go up
  • The amount of cover reduces each month during the policy term, and is calculated to be enough to pay off the capital you still owe on your repayment mortgage
  • Freedom to increase your cover to suit your needs if your circumstances change
  • Free cover for up to three months if you are waiting for a house purchase to complete
  • Free accidental death benefit for up to 60 days while your policy is being arranged
  • Plus up to £50 M&S vouchers when you take out a policy

Your gift*

£40 M&S Vouchers


£50 M&S Vouchers
if you are an AA Member


Critical illness cover

For extra protection you can choose to add critical illness cover to your life insurance policy. This means you will receive your cash sum if you are diagnosed with a critical illness covered by your policy. Illnesses covered include many cancers, multiple sclerosis, heart attack or stroke. You can add this cover to your life insurance online application, or apply by phone – call free on 0800 107 6642. Find out more about critical illness cover.

Please note: premiums for policies that include critical illness cover are, in some circumstances, not guaranteed. This means that premiums could increase in the future, or cover may need to be reduced.

Premium protection option

Our premium protection option, also known as 'waiver of premium', means your premiums will be paid for you if you are unable to work for more than six months, due to illness or injury other than a deliberately self-inflicted injury. You can add this option to your life insurance online application or apply by phone – call free on 0800 107 6642.

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* £40 M&S vouchers, or £50 for AA Members, when you take out life insurance. You will receive your gift once you've paid your first three months' premiums. Please allow 28 days for delivery. One gift per person. Joint applicants will only receive one amount of M&S vouchers. We reserve the right to change this promotion at any time.

AA Life Insurance is available from Automobile Association Insurance Services Limited (AAIS) an insurance intermediary authorised and regulated by the Financial Services Authority (FSA). You can check on the FSA's register by visiting the FSA's website or by calling the FSA on 0845 606 1234.

Automobile Association Insurance Services Limited. Registered office: Fanum House, Basing View, Basingstoke, Hampshire RG21 4EA. Registered number: 2414212 England.

AA Life Insurance is provided by Friends Provident Life Assurance Limited