Decreasing Term Life Insurance


  • An annual renewable term life insurance policy with benefits that shrink over time at a rate established by the insurance policy. Decreasing term life insurance policies generally offer level premiums. Also known as "decreasing term insurance" and occasionally as "mortgage life insurance."

decreasing benefit insurance, shrinking term life coverage

Related Terms and Acronyms

  • Fixed Premium Definition,
    • Insurance or annuity premiums that stay level for a specific period of time.
  • Insurance Renewal Definition,
    • Extending the term length on an insurance policy.
  • Level-Premium Insurance Definition,
    • Insurance where the premiums the policyholder pays are guaranteed to remain the same for an agreed upon period of time.
  • Life Insurance Definition, Very Important,
    • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
    CanEquity offers life insurance.
  • Term Life Insurance Definition,
    • Life insurance that provides coverage for a set period of time, often from five to forty years.
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