Decreasing Term Life Insurance

decreasing term life insurance

This decreasing term policy is ideal when financing a property or to protect the balance of a debt in the event of the death of the debtor. The terms we offer are 5, 10, 15, 20, 25 and 30 years. The amount to be paid in the event of death will be determined according to the table of benefits included in the contract.

Many Americans are familiar with the traditional term and whole life insurance policies, but may not be aware of specific types, such as decreasing term life insurance.

With standard life insurance, you pay a premium, and if you die while the policy is in force, the stated death benefit is paid to your beneficiaries.

In most cases, the death benefit remains a constant dollar amount over the term. This is ideal for those who want to provide income replacement and pay for their family’s future costs, such as a mortgage, car loan, or college tuition for their children.

However, there are other types of life insurance that can be tailored to meet more specific financial needs. For example, some families may want to buy a large death benefit for their early years, but believe they will need less coverage in the future.


Decreasing term policy is a type of policy in which your death benefit decreases monthly or annually (or at a predetermined rate) for the life of the policy, while your premiums remain fixed.

Decreasing term life insurance may be best for people who need a term life policy with diminishing death benefits.

Decreasing term insurance could be helpful in covering the balance on a home, personal, or business loan.

The declining term insurance can be purchased for 5, 10, 15, 20, 25 or 30 years and when the contract expires, the death benefit will have reached zero.

Decreasing term policy rates is cheap and affordable, and many of the major life insurance companies offer it as an option.

Alternatively, companies also offer growing term life insurance, which works the same way by increasing coverage over time. While not as affordable, increasing term life insurance can be an option for families expecting increasing needs.

Also Read :Life insurance for couples

Decreasing term life insurance rates

As much as the rates of the decreasing term life insurance is concern the Decreasing term policies are much cheaper than term or whole life policies.

Decreasing Term Life Insurance Supplements

  • Waiver of premium payment for total disability

If you become totally disabled (as defined) for a period of six months or more, we will waive the payment of premiums that expire while said total disability continues. If such disability is the result of dismemberment as defined in the supplement, you are eligible for the benefit when the loss occurs.

  • Death by accidental means

We provide coverage for death as a direct result, and regardless of other causes, of accidental bodily injury suffered while the policy is in force and that the death occurs within 90 days of the accident.

  • Disability Income Protection Coverage

Provides a set amount of monthly income during the period of total disability for a maximum period of 5 years or up to age 65. This benefit applies to the main insured.