What is mortgage life insurance? 

Mortgage life insurance can pay out a cash lump sum after your death. It's designed to give your loved ones enough support to help pay o ff your mortgage if something happens to you.


How does mortgage life insurance work?

Mortgage life insurance can help pay off your mortgage after your death. It's sometimes called 'decreasing cover'. This means that the amount the policy pays out after your death goes down each month until it ends. So as you pay off your mortgage, the amount of cover you need will go down too. 

It tends to be cheaper than other kinds of cover. So you can still make sure your loved ones get the support they need, at a slightly lower cost.


Scottish Widows protection products have no cash-in value at any time. So if the policy ends without a claim, you won't get any money back. If you don't make payments on time, your cover will stop, your policy will end and you'll get nothing back.

Do I need mortgage life insurance?

Mortgage life insurance might be right for you if: 

  • You have a repayment mortgage
  • You’d like to make sure your loved ones can keep their home after your death
  • Your loved ones would struggle to pay off the mortgage without you.

How can mortgage life insurance help?

Mortgage life insurance can help pay off your mortgage after your death. It can support your loved ones when they need it most, by helping them keep their home. 

But if your loved ones would need a bit more support to keep up with day-to-day costs or to achieve future plans, then other types of insurance might be able to offer more help. 

You might also want to think about critical illness cover. This kind of cover can pay out a cash lump sum if you fall seriously ill. It could help you and your loved ones pay off your mortgage, and let you focus on your own health and wellbeing.

To help work out what kind of cover is right for you, we've compared some common policies.

How can mortgage critical illness cover help?

You might also want to think about critical illness cover. This kind of cover can pay out a cash lump sum if you fall seriously ill. It could help you and your loved ones pay off your mortgage, and let you focus on your own health and wellbeing.

Decreasing cover

Cover reduces but payments stay the same

Infographic depicting decreasing cover

How does decreasing cover work? 

Decreasing cover means that the amount your policy pays out goes down each month until it ends. You'll pay the same amount each month.

What’s the benefit of decreasing cover? 

Decreasing cover is usually a cheaper kind of cover. It's often used to cover a repayment mortgage. As you pay off your mortgage, the amount of cover you'd need to pay it off will go down. So if you mainly need cover for your mortgage, you could get the support you need and pay less each month than level cover.

How can I get mortgage life insurance?

We can’t offer you mortgage life insurance online just now, but we want to make sure you and your loved ones get the support you need. That’s where LifeSearch can help. Call them today and they can help find cover that’s right for you and your mortgage.

LifeSearch won't charge you for their advice, and you're under no obligation when you speak to them.

Call LifeSearch on: 

0800 804 6825

Lines are open Monday to Thursday 8am - 8pm, Friday 8am - 6pm, Saturday 9am - 2pm. 

LifeSearch is not a part of Lloyds Banking Group.