Decreasing term life insurance is a form of insurance policy that offers you protection for a specified period and pays out a sum to your beneficiaries if you die during the specified term.
From the word itself, the coverage amount in this type of insurance decreases over the term of the policy and is usually equivalent to the outstanding quantity on your mortgage. Even if the coverage amount decreases, the monthly premium you pay for this policy remains the same throughout its term.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment