If you wanted to provide more coverage to your family early in life when they need it the most and decrease this amount of coverage in later years,yet continue to pay the same premiums,you should buy a(n)________ policy.

Question

Quizplus · Accepted Answer

Decreasing term policies provide higher coverage at the beginning of the policy but decrease over time, making them a suitable choice for those who want more coverage during their family’s early years when they are most vulnerable. Since the coverage decreases over time, the premiums remain constant, making it an affordable choice for many. Whole life, Universal life, and Variable life policies do not have decreasing coverage over time and may not be the best fit for those seeking this specific feature.

If You Wanted to Provide More Coverage to Your Family