Decreasing term insurance
Decreasing term insurance
Decreasing term insurance is a life insurance policy under which the death benefit amount payable declines over time. If the insured's death event occurs in the first month the policy is in force, the beneficiaries will receive the maximum death benefit. In each subsequent period, the death benefit will be lowered by a specified amount or percentage. Decreasing term insurance addresses circumstances where the insured has higher liabilities and lesser assets in the earliest years of the policy.
6.05
5.78
