Catherine Haines, IFA at Millfield Partnership

Ian and Kelly need life cover as a minimum for the mortgage debt to ensure that it would be repaid in the event of either of them dying. This should be arranged on a decreasing term basis as they have a repayment mortgage. The cost of a decreasing term for £126,000 over 25 years is £12.94 per month, assuming they are non-smokers. The most competitive company, according to The Exchange, is Scottish Provident and this contract includes guaranteed premium rates, accidental death cover, terminal illness cover and waiver of premium for both of them. If they were able to afford it I would recom...