Life insurance and Critical Illness Cover comes in a few different variations that you may not be aware of:

• You can take out a life policy to run alongside an existing or new mortgage which will decrease at the same rate and time as the mortgage and should anything happen to the policy holder the fund would be available subject to underwriting to pay off the rest of the mortgage. This can be known as mortgage assurance or mortgage life insurance but is strictly for coinciding with a mortgage.

• You can base life insurance on a term basis. This means that you decide how long you want the cover for and then it will expire after that fixed time period. For example this could be for a period of 10 or even 30 years, how ever long you want it for.

• Level life insurance means that the amount you originally insured for, for example £50,000 will remain the same until the end of the policy and the benefits will never decrease or increase.