Sentences with phrase «pay decreases upon»
The policy holder is required to pay monthly premiums but in the long run, the amount that insurance carriers need to pay decreases upon the death of the insured.
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The interest you pay on these loans may increase or decrease after it has been originated depending upon changes to that market index rate.
Decreasing term was designed to pay off your mortgage upon the death of the homeowner, or the person paying the mortgage if that is someone other than the owner of the home.
As the mortgage is paid off the need for the higher payout upon death is reduced therefore this coverage decreases not only the payout upon death as time goes by but also has lower premiums.
Decreasing term insurance was designed to pay off the balance owed on a mortgage upon the death of the person making the mortgage payments.