With this type of term policy, your death benefit decreases over time as you pay a level premium. (studentloanhero.com)
Whereas, with mortgage life insurance, the premiums may remain the same each year, but the value of the policy death benefit decreases over time as the balance of your mortgage declines. (term-life-online.com)
These types of mortgage life policies are a good choice for those who have an interest only mortgage where the amount of the principal balance does not decrease over time. (insurancescored.com)