Sentences with phrase «decreasing term insurance»

Had it been a case where Amit already had an insurance policy and needed an additional one to cover his loan; decreasing term insurance would have served the purpose.

He may go with decreasing term insurance in which the amount of cover decreases every year, let's say, by 5 % (basically at the pre-determined rate).

For example, term insurance plans have a few versions these days which include; level term insurance, increasing term insurance, decreasing term insurance, return of premium term insurance, joint life term insurance and there are a few more as well.

Decreasing term insurance means that the death benefit will drop over the time of the policy.

Frequently, a decreasing term insurance policy is used for this situation.

VMLI is decreasing term insurance which reduces as the mortgage balance declines.

Coverage is in decreasing term insurance, so the amount of coverage decreases as the debt decreases.

A combination of a level premium deferred annuity and decreasing term insurance: Cash values accumulate in both annuities and level premium life insurance policies on a tax deferred basis.

One can view ordinary level premium whole life mathematically (but not legally) as a combination of decreasing term insurance and increasing «savings fund.»

When you buy a decreasing term insurance plan at a younger age, you can secure your loans and ensure their timely repayments.

As regular level term life insurance premiums became less expensive than decreasing term insurance, the traditional mortgage life insurance fell out of favor.

Aegon Religare Life Insurance Company also does not link the decreasing term insurance to any loan, but it is advisable to take it only in case you have a huge liability, says Yateesh Srivastava, its chief operating officer.

Decreasing Term Insurance — Level premiums annually, but the coverage amount decreases each year.

Mortgage protection life insurance coverage is usually in the form of decreasing term insurance, with the amount of coverage decreasing as the outstanding mortgage debt decreases.

Decreasing term insurance - provides protection in which the amount gradually decreases throughout the life of the policy.

Decreasing term insurance pays a death benefit that gradually decreases in value over time.

Decreasing Term Insurance: This is a type of term insurance which provides a cover that decreases at a predetermined rate over the period of the policy while the premium remains constant.

Most insurers only offer decreasing term insurance policies, in which the death benefit becomes smaller over time, because financial obligations tend to decrease with age.

Increasing Term Insurance: As the name suggests, this plan works opposite to the «decreasing term insurance» that we discussed above.

Decreasing Term Insurance — A type of Term Insurance with a death benefit amount that decreases over time, tied to a collateralized loan, such as a mortgage.

Since the effectiveness of decreasing term insurance is by definition limited by the age and demographic of the insured — in other words, since the coverage is temporary — insurance companies undertook to design a «permanent» type of life insurance.

Since the real purpose of life insurance is to cover the remaining earning capacity of the insured, and since this capacity decreases with age, decreasing term insurance is a very good instrument to accomplish this.

Decreasing term insurance is a useful option to cover a specific kind of financial liability, such as a mortgage.

In addition, when reviewing your decreasing term insurance quotes make sure you consider the financial strength rating (which is shown with the quotes).

Purchase decreasing term insurance for whatever needs to be insured against your death: your family's financial security, the mortgage, whatever.

There are two basic types of mortgage life insurance: decreasing term insurance, where the size of the policy decreases with the outstanding balance of the mortgage until both reach zero; and level term insurance, where the size of the policy does not decrease.

Decreasing term insurance was designed to pay off the balance owed on a mortgage upon the death of the person making the mortgage payments.

You may also purchase a decreasing term insurance.

Moreover, the premiums of an increasing term insurance plan are higher than premiums charged by a normal level term insurance plan or a decreasing term insurance plan.

The death benefit of the policy decreases each year; thus the popular name for this policy... decreasing term insurance.

Increasing and Decreasing Term Insurance: In this type of policy the insured has the option of changing the policy amount.

The amount of decreasing term insurance on your life would be close to that amount... just sufficient to pay off the balance owed.

Decreasing term insurance could be useful in covering the balance of a mortgage, personal or business loan.

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.

Decreasing term insurance is therefore a term life insurance policy in which the face amount decreases yearly but the premium remains the same.

Level term policies have pricing that's comparable and, in some cases, much better than decreasing term insurance.

There are two types of HLPP; decreasing term insurance, where the sum assured decreases with the outstanding balance of the loan until both reach nil; and level term insurance, where the sum assured does not decrease (in case of interest - only mortgage).

Decreasing Term Insurance: Term life insurance on which the face value slowly decreases in scheduled steps from the date the policy comes into force to the date the policy expires, while the premium remains level.

A decreasing term insurance plan does that.

Why would you buy decreasing term insurance?

Premiums of decreasing term insurance plans are, usually, lower than premiums of a normal term insurance plan where the Sum Assured remains the same.

One such variant of a term plan is a decreasing term insurance plan.

Family income and mortgage cancellation are common types of decreasing term insurance.

Decreasing term insurance is most often used to protect mortgagesand other large debts.

Increasing term insurance - As you may have guessed this policy is the opposite of decreasing term insurance.

Here are the common features of a decreasing term insurance plan tied to a loan account:

Decreasing term insurance is generally not a great deal, because the premium will remain the same, but the face amount will lower over time.

Other than loan protection needs, a decreasing term insurance plan is also useful for you if your protection needs decrease over the years.

Decreasing term insurance is generally purchased by those who have financial obligations that decrease over time such as a mortgage or a personal or a business loan.

Tax saving: A decreasing term insurance plan is a life insurance plan and like other life insurance plans, the plan too provides tax benefits.