What is the Definition of Decreasing Term Life Insurance?

What is the Definition of Decreasing Term Life Insurance?

Term life insurance that provides a death benefit that decreases in amount over the policy term. Contrast with Increasing term life insurance.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Decreasing Term Life Insurance?

What is the Definition of Decreasing Term Life Insurance?

Check out other definition of insurance terms below:


What is the Meaning of ANTITRUST LAWS In Insurance Terms?

Laws that prohibit companies from working as a group to set prices, restrict supplies or stop competition in the marketplace. The insurance industry is subject to state antitrust laws but has a limited exemption from federal antitrust laws. This exemption, set out in the McCarran-Ferguson Act, permits insurers to jointly develop common insurance forms and share loss data to help them price policies.


What is the Meaning of APPORTIONMENT In Insurance Terms?

The dividing of a loss proportionately among two or more insurers that cover the same loss.


What is the Meaning of APPRAISAL In Insurance Terms?

A survey to determine a property’s insurable value, or the amount of a loss.


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