;

Increasing term life insurance

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

Increasing term life insurance

A term life policy that increases the death benefit each year during the term. Concurrently, as the death benefit increases, so does the premium. If kept long enough, the premium on this policy will increase faster than the death benefit. Usually, this is sold as a supplement to a permanent life insurance policy.

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