Choose a decreasing term policy instead of level term
When selecting a mortgage protection plan, one of the most effective ways to lower your premium is to choose a decreasing term policy rather than a level term policy. A level term policy keeps the payout amount exactly the same throughout the entire duration of the coverage, which means you are paying for a high level of protection even when your actual mortgage debt has significantly decreased. In contrast, a decreasing term policy is specifically designed to align with the amortizing nature of a home loan,