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• Level term assurance
• Decreasing term assurance
• Whole of life
• Income protection
• Payment protection
• Private medical insurance

This is identical to Level Term Assurance apart from the fact that the amount hat you are covered for reduces every month. These plans are normally designed to run alongside a repayment mortgage and track the reductions in your mortgage balance.

The advantage is that they are cheaper than Level Term assurance for the same level of starting cover however although the amount of cover reduces, the premiums stay the same.