Life insurance is a crucial aspect of financial planning. It provides financial support to your loved ones in case of your untimely death. Different types of life insurance policies are available in the market, including term life insurance, whole life insurance, and universal life insurance. One of the most popular types of term life insurance is decreasing term life insurance.
What is Decreasing Term Life Insurance?Decreasing term life insurance is a type of term life insurance where the death benefit decreases over the policy term. It’s designed to cover a specific debt or liability that decreases over time, such as a mortgage or a business loan.… Read the rest