Life Insurance Information Components Death benefit

Decreasing benefit life insurance

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Term life insurance can be equipped with a decreasing death benefit.  A decreasing benefit life insurance policy’s face amount undergoes periodic reductions until, at the conclusion of the term, the size of the death benefit reaches zero.

Decreasing benefit term life insurance is a useful tool those who have a mortgage or outstanding debt:  individuals work to amortize the debt during life but also maintain life insurance to cover it in case of unexpected death.   As the debt shrinks, of course, the death benefit needed to pay it off becomes lower and lower.  The term of the decreasing benefit life insurance policy should be set to coincide with the planned termination of the debt.

By choosing a life insurance policy with a decreasing death benefit, you reduce the cost of your life insurance.

For questions regarding decreasing benefit life insurance or to apply for a life insurance policy, call 1-800-823-4852 today for free assistance from a licensed life insurance advisor.

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For assistance call 1-800-823-4852 7am–6pm M–Th, 8am–5pm Friday (Pacific time).
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