Life cover

A question about : Life cover

Hi, my partner and I have just bought a property together and we need to get a joint life cover insurance.

I currently have life cover for myself which is for a smaller amount which covered the mortgage on my previous mortgage. This was an a decreasing basis.

I'm not sure whether it is best to use cover the mortgage amount or whether to cover a bit more than this and whether level or decreasing is best.

Just wondered if anyone could give me any pointers?

Thanks

Best answers:

• We just want to do enough to cover the mortgage at the moment as we don't have any kids yet. So decreasing my be the right option for this then?
• Assuming the mortgage is a repayment type then decreasing term assurance would be the best suited option.
  You may want to consider protecting your incomes as you have no other dependants as well?
• Yes Income plans or PHI is best for your situation