- Your loved ones can receive a cash sum if you die during the cover period
- The cash sum that would be paid out decreases over the cover period
- The money can be used to pay off your repayment mortgage
- You can receive payment early if you’re diagnosed with a terminal illness
- In return for an additional amount, you have the option to have your payments waived if you are unable to work through illness or injury for over 6 months
- You make monthly payments that are guaranteed to stay the same as you get older, unless you increase your cover or extend the cover term
- Flexible options are available if your circumstances change, subject to conditions
Need more help?
To arrange your cover
Call us on
0800 916 6840 Monday to Friday 8am-8pm.
Or alternatively, arrange a time for us to call you.
What you'll need...(PDF)
- What is decreasing life cover?
- How much will decreasing life cover cost?
- Compare us to our competitors
What is decreasing life cover?
Have you considered who would pay your repayment mortgage if you weren't around? By taking out Greenbee Life Cover, you can help to ease your family's financial worries, should you die or be diagnosed with a terminal illness during the cover period.
Decreasing life cover (also known as mortgage life cover, decreasing term assurance or mortgage life insurance) pays out a cash sum that can be used to pay off your repayment mortgage in the event of your death. This amount reduces over the cover period (also known as the ‘term'), normally in line with your outstanding mortgage amount.
If you have an interest only mortgage, or you want to be able to cover additional outgoings, you may like to consider our level life cover option instead. This pays out a cash sum that stays the same throughout the term.
How much will decreasing life cover cost?
We offer the following options:
You could protect your family financially from as little as £5 per month. Your cover may cost more. It will depend on your individual needs and circumstances and the premium you choose to pay. A Greenbee Life Cover plan doesn't have a cash in value and requires you to make monthly payments.
Get a decreasing life cover quote online or call us on 0800 916 6840 for your personal life cover quotation to see just how affordable life cover could be. Please be aware that although we can talk through the different options with you, we can't give you financial advice. A professional financial adviser can help you decide whether a life cover plan is suitable for you.
It's important to remember that the buying power of any money paid to you will reduce with inflation, so you need to make sure that you take out sufficient life cover and regularly review your arrangements with us.
Greenbee Life Cover is provided by Friends Provident Life Assurance Limited - please read Important information (PDF). Once your policy begins you may receive documents and correspondence from Friends Provident. This will always be relevant to your application or policy and will never be unsolicited.
