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What benefits should I expect from a decreasing term life insurance policy?
Wiki User
∙ 14y ago
A decreasing term life insurance policy has the benefit of lower premiums. It also can be adjusted to provide exactly what coverage is needed (for example to cover a mortgage as the total amount due decreases over time).
Wiki User
∙ 14y ago
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The face of which type of insurance is reduced over the life of the policy?
decreasing term insurance
Which type of insurance is reduced is reduced over the life of the policy?
decreasing term insurance
The face value of which type of insurance is reduced over the life of the policy?
decreasing term insurance
Is there cash value in decreasing term insurance?
Decreasing term life insurance does not usually have any cash value. Decreasing term life insurance is life insurance coverage in which the face amount of a term life insurance policy declines by a certain specified amount over a specific number of years. For example, the initial face amount of coverage of a $200,000 decreasing term life insurance policy decreases by $20,000 each year, until after 10 years the face value of the policy equals zero. The premium does not decrease over the term of the policy.
The face value of which type of insurance is reduced over the life of the policy-?
The decreasing term insurance has its face value reduced as the policy ages.
What is a decreasing term life insurance policy?
A decreasing term life insurance policy is one that offers a steadily declinintg life insurance benefit as the years go by. This kind of policy is often called "mortgage protection" term life insurance and is often bought for a length of time that matches one's mortgage period.
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