Decreasing Term Life Insurance


Definition of "Decreasing term life insurance"

Patricia "Trish" Dement Morris real estate agent
Patricia "Trish" Dement Morris, Real Estate Agent The Jim Allen Group

Coverage in which the face amount of a life insurance policy declines by a stipulated amount over a period of time. For example, the initial face amount of a $100,000 decreasing term policy decreases by $10,000 each year, until after 10 years the face value equals zero. The premium does not decrease.

Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

 

Popular Insurance Terms

Popular Insurance Questions