A decreasing term insurance policy is a type of life insurance plan that provides temporary coverage lasting for a specific period of time, usually up to thirty years.
With decreasing term, you may be able to select a duration of coverage from 10, 15, 20 or 30 years, usually.
Decreasing term insurance provides an amount of life insurance that decreases each year, until the end of the final year of coverage.
However, the premium stays the same each year. So, although the amount of life insurance protection is declining, the cost of the life insurance stays the same each year.
Learn more about decreasing term insurance policies and how they work.
With decreasing term, you may be able to select a duration of coverage from 10, 15, 20 or 30 years, usually.
Decreasing term insurance provides an amount of life insurance that decreases each year, until the end of the final year of coverage.
However, the premium stays the same each year. So, although the amount of life insurance protection is declining, the cost of the life insurance stays the same each year.
Learn more about decreasing term insurance policies and how they work.
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