Decreasing Term Insurance

Business / Taxes / Decreasing Term Insurance: With a decreasing term life insurance policy, the amount of the death benefit decreases each year of the fixed term ?€” such as 20 years ?€” although the premium remains the same. This type of insurance tends to be an economical way to protect your beneficiaries should you die unexpectedly during a period when you have substantial financial responsibilities. For example, young parents with a large mortgage might consider decreasing term policies to help insulate each other against the responsibility of meeting their financial obligations should something happen to one of them.
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Other Words for Insurance

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Other Words for Term

Term Adjective Synonyms: sitting, stint, session, course, incumbency, administration
Term Noun Synonyms: name, title, designation, appellation, word, expression, locution, phrase
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Reinsurance

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