Affordable Life Insurance Protection for Your Family
What is Decreasing Term Life Insurance?
Decreasing Term Life Insurance provides you with a decreasing amount of life insurance coverage each year, while your insurance premiums remain the same each year for the entire term of your policy.
The main benefits of Decreasing Term Life include:
Example: $300,000 15 Year Level Term Life Policy - $350 annual premium.
You would pay $350 each year and if you pass away during the 15 year term, your family (beneficiary) would receive the proceeds from your decreasing term policy. However, if you are alive after the 15-year term life policy expires, your life insurance coverage ends.
Why Choose Declining Term Insurance?
Decreasing life insurance makes it easy for you to budget for your life insurance. Since your life insurance rate stays the same each year, you can count on no increase in your premiums.
Decreasing term life provides coverage that declines each year, but your premiums stay the same.
You also get the option of choosing coverage for a period of 10, 15, 20, 25 or 30 years, which offers you the flexibility to buy the life insurance you need, while you need it, to meet your family’s needs.
For example, many families choose a 20 or 30-year decreasing term plan to provide protection for their family until the kids are grown and on their own. And, a 30-year plan can give you protection to pay off your mortgage loan on your home.
When comparing term life insurance prices make sure you consider:
In addition, when reviewing your decreasing term insurance quotes make sure you consider the financial strength rating (which is shown with the quotes). The financial rating is an indication of the insurance company’s ability to meet their financial obligations, and pay their claims.
Top Pick – JRC Insurance Group
JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we'll shop our 40+ insurance companies and find you affordable life insurance you need to protect your family and fit your budget. Compare the best life insurance rates for savings up to 73%. Get Your FREE Quote.
Highly Recommended – Haven Life Insurance Agency
Haven Life uses the information provided in your application to make an instant decision on your application. Healthy, qualified applicants (based on the information provided in your life insurance application) can be insured immediately with no medical exam while other applicants can receive immediate coverage pending a medical exam.
Applicants age 60-64 are eligible to apply for up to $1 million in coverage; subject to underwriting approval.
Some qualified applicants (U.S. citizens up to the age of 59) will be able to finalize coverage without the need for a medical exam. The majority of applicants are still required to take a medical exam.
Keep in mind: Issuance of the policy or payment of benefits may depend upon the answers given in the application and the truthfulness thereof.