Decreasing term insurance usually has a decreasing face value and
A)a decreasing premium.
B)a level premium.
C)an increasing premium.
D)a fluctuating premium.
E)none of the above.

Question

Quizplus · Accepted Answer

Decreasing term insurance typically has a level premium, meaning the premium stays the same throughout the coverage period. However, the face value of the policy decreases over time, often in line with the insured's declining mortgage balance or other outstanding debts that the policy is intended to cover.

Decreasing Term Insurance Usually Has a Decreasing Face Value and