It's a type of temporary life insurance plan where the premiums remain the same each year you are insured, while the amount of life insurance provided by your policy declines each year.
Usually, decreasing term policies may offer a policy term (duration) of 10, 15, 20 or 30 years of coverage.
This type of life insurance policy may be a good option to consider for protecting your mortgage loan on your home.
However, level term life insurance policies may offer more affordable options.