Decreasing term insurance pays less to the beneficiary as time passes.

Name: Decreasing term insurance pays less to the beneficiary as time passes.
Brand: Quizplus
Rating: 4.8 (55 reviews)

Question

Quizplus · Accepted Answer

Decreasing term insurance provides a decreasing payout to the beneficiary over time, typically with a fixed premium amount. This is different from level term insurance, which pays out a fixed amount to the beneficiary regardless of when the policyholder dies.

Decreasing Term Insurance Pays Less to the Beneficiary as Time