Mortgage protection life insurance, is a financial product which guarantees that your mortgage will be paid off in the event of your death. Certain policies are designed to decrease in value as the size of your mortgage decreases, enabling you to ensure that you are not paying for unnecessary cover.
Whilst banks are always very keen to sell their own life cover along with the mortgage, you will normally find that what they recommend is not in your best interests and has a tendency to be very expensive.