With decreasing term life insurance, this policy is a type of annual renewable term insurance that provides you with a death benefit that decreases at a predetermined rate over your chosen term. Throughout your contract, you can experience constant premiums and receive reductions in policy payout monthly or annually. This can be spread out over one, five, 10, 20, 25, 30, or 50 years, depending on the term life insurance you choose.
Benefits of Decreasing Term Life Insurance
Decreasing term life insurance is designed to decrease with age, as certain liabilities will no longer apply. In most cases, this policy is attached to the mortgage of the home. This ensures that if the head of the house passes away, the home will not become a financial burden for the dependents living in the home. As the amount of the mortgage decreases, the payout of the insurance policy also decreases, but no matter when the premium is paid out, it will ensure that the total value of the mortgage is paid for.
Let Us Help You Find the Right Policy
At B2 Insurance, we have been one of the South Bay’s leading insurance brokerages. We have over 15 years of experience helping business owners, families, and individuals find the best, most affordable coverage for their exact needs. We have made long-term connections to over 30 of the best insurance companies in the nation. Leveraging our relationship, we can get you the best coverage at the best rates. Let us help you find the best life insurance policy for your needs today.