( Insurance : Life insurance )
insurance1, insurance2, insurance3
Coverage is in decreasing term insurance, so the amount of coverage decreases as the debt decreases.
A big portion of the decreasing term insurance found today is in the form of mortgage life insurance, which pegs its benefit to
the remaining mortgage on the insured's home.
Decreasing term insurance is life insurance with the amount of coverage decreasing over the term of the policy
and a lump sum payment if you die in advance.
Collins English Dictionary. Copyright © HarperCollins Publishers