Do the Term and the Sum Assured have to be the same for a Decreasing Cover policy?

If the sum assured is less than what you have outstanding on your mortgage, then you could have a shortfall on your policy as the amount of money you are insured for may reduce quicker than your mortgage.

• What is the difference between a Fixed Term and a Mortgage Life insurance policy?
• What is the difference between Level cover and Decreasing cover?
• Why can I not get a quote online for the term I am looking for?
• Is the cash lump sum guaranteed?
• What types of policy does Tesco Life Insurance offer?