Decreasing
term insurance
It is also possible to buy ‘decreasing benefit’
policies where the amount you are insured for goes down
each year.
This type of policy is useful if the amount
you are insuring for will also decrease – the
amount of an outstanding loan, for example.
These policies
are not advisable if the amount you need to insure will
remain the same or go up during the life of the policy. |
