Decreasing Term Life Insurance

February 25, 2008 by admin
Filed under: Life Insurance 
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Why Buy Decreasing Term Life Insurance?

Many people buy decreasing term life insurance so they can get an affordable premium that will suit their needs. It is easy to understand when you consider a common use like mortgage life insurance. If a mortgage carries a $150K balance, then that might be a good face value for the life insurance policy. Likewise, if the mortgage has 10 years to go, then a ten year term life insurance policy would be a good choice.


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As the mortgage balance declines, so does the face value of the life insurance company. For intance, half way through the policy, maybe only $75K would still be owed, and the policy could have a value close to that. The good thing, is that insurance companies will charge less for a decreasing face value life insurance policy because their risk gets lower as time passes.

Related posts:

  1. What Is Mortgage Life Insurance?
  2. Find Term Life Over Age 50
  3. Return Of Premium Term Life Insurance
  4. Buying the Best Life Insurance For You and Your Family
  5. Cheapest Life Rates with No Load Policies

Comments

12 Comments on Decreasing Term Life Insurance

    [...] have compared life insurance rates, and still find premiums too high, you may want to consider a decreasing term life insurance policy for cheaper rates and adequate coverage. The coverage amount goes down, as does your need, say when [...]

    [...] looking for an affordable life insurance policy that will still cover you, you may want to consider decreasing term life insurance. What this means is that the face value, or insured amount, of the policy will decline throug the [...]

    [...] life insurance to cover a home mortgage, also called mortgage protection insurance, is to buy decreasing term life insurance which goes down in value as the home loan is paid [...]

    [...] life insurance to cover a home mortgage, also called mortgage protection insurance, is to buy decreasing term life insurance which goes down in value as the home loan is paid [...]

    [...] life insurance to cover a home mortgage, also called mortgage protection insurance, is to buy decreasing term life insurance which goes down in value as the home loan is paid [...]

    [...] life insurance to cover a home mortgage, also called mortgage protection insurance, is to buy decreasing term life insurance which goes down in value as the home loan is paid [...]

    [...] life insurance to cover a home mortgage, also called mortgage protection insurance, is to buy decreasing term life insurance which goes down in value as the home loan is paid off. By: Admin Posted in Website [...]

    [...] life insurance to cover a home mortgage, also called mortgage protection insurance, is to buy decreasing term life insurance which goes down in value as the home loan is paid [...]

    [...] life insurance to cover a home mortgage, also called mortgage protection insurance, is to buy decreasing term life insurance which goes down in value as the home loan is paid [...]

  1. Life Insurance Needs on Thu, 3rd Jul 2008 1:46 pm
  2. [...] life insurance to cover a home mortgage, also called mortgage protection insurance, is to buy decreasing term life insurance which goes down in value as the home loan is paid [...]

  3. Mortgage Protection Explained on Wed, 24th Sep 2008 3:13 am
  4. [...] simply a form of term life insurance with a face amount that covers a mortgage balance. Sometimes a decreasing term life insurance policy is used because it will decline as the mortgage declines, and so the premium is cheaper. Riders, [...]

    [...] Imagine paying $50 a month for $20 years, and then getting back $12,0000 in cash! Some people even buy decreasing term life insurance which features a decreasing death benefit, to match the decreasing mortgage balance, and of [...]

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