Mortgage Protection life assurance is designed to ensure that your capital repayment mortgage is paid off should you die or suffer from a critical illness.

This is the most popular type of policy to provide life assurance cover over a fixed term.� The cost is relatively low, and it is generally accepted as a suitable method of providing low cost family cover, or to provide security on an interest only mortgage.

Critical illness cover can be included within the policy.� It is usually far less expensive if this cover is combined to pay on the first occurrence, as opposed to two separate policies.

This is a level term policy with the convertible option added.� This permits you to change the policy to a whole of life or endowment (depending on the insurer and terms offered at the time of exercising the option) at any time within the policy term.� This will be without the need to provide further evidence of health.� On a like for like basis, the premium for this policy is generally more expensive than for level term assurance.� Critical Illness cover can be included.

This policy will pay your chosen regular income over the remaining term of the policy if you were to die.� Some insurer's can also include critical illness within this type plan.

This type of policy is generally suitable for keyperson cover and for those who require cover for a personal loan etc.� At the end of it's term (5-years for example), you have the option to renew the policy without the need to provide evidence of your health at that time.� However, the premium will be relevant to your age, which will in most cases be significantly higher at each renewal.

This type of life assurance provides cover throughout all of your life.� These policies have the option to include critical illness cover and can be set up in a variety of ways.

They can be set up on a 'Balanced' basis, which provides a level sum assured throughout the plan, or on a 'Maximum' basis which provides the chosen sum assured for the first 10-years of the policy, with a reduced sum assured applying thereafter (unless premiums are significantly increased to sustain the initial sum assured).

Most of these policies are investment based.� The premiums buy units in a unit trust fund and grow in value depending on the performance of the fund(s).� The insurance company cancels some of the units to pay for the cover.� Premiumsare subject to review, normally after 10 years and every 5 years thereafter.� If the value of the policy is low, the insurer may increase the premium to sustain the cover.�