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Decreasing Term Life Insurance

Definition of "Decreasing term life insurance"

Beverley Knopp
  Keller Williams

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.

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