Decreasing term life insurance

Life insurance terminology shouldn't be confusing. Here is the definition of decreasing term life insurance.

A term life policy with a death benefit that decreases over time with a level premium. Typically, this is sold as "mortgage insurance" since most buyers use it to cover a depreciating asset or a diminishing loan. This is not the same as private mortgage insurance one may be required to buy as part of a home loan.


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