Sentences with phrase «benefit decreases annually»

The death benefit decreases annually to keep level with your mortgage balance.

Not exact matches

Once your term ends, the term policy can be renewed annually, typically with an increased premium, decreasing death benefit, or both.

The level premium period may be extended beyond the initial level benefit period, however the face amount will begin to decrease annually until it reaches $ 10,000, at which point premiums will begin to increase.

The premium stays level, instead of going up annually or in steps, BUT the death benefit amount decreases, usually every year.

Decreasing term insurance is a type of policy where your death benefit decreases monthly or annually (or at some predetermined rate) over the life of the policy, while your premiums remain fixed.

You would insure the amount you owed on your mortgage and the death benefit would decrease annually, as your mortgage payments reduced the amount you owed on it.