Decreasing Term Insurance Law and Legal Definition
Decreasing term insurance is a form of life insurance coverage in which premiums are fixed but the benefit decreases every year in monthly, quarterly or yearly basis. Here, premiums remain constant for the life of the policy while the death benefit declines. Decreasing term insurance provides a death benefit that decreases at a predetermined rate over the life of the policy.
Legal Definition list
Related Legal Terms
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
