Decreasing life insurance, is a type of cover, that pays out less as time goes on. These are unusually designed for individuals and couples, who require greater financial security at the beginning, to protect loved ones, with a smaller settlement being offered towards the end of the policy. Though while these are found to be cheaper, once matured there is often no payout or protection for your loved ones.
These are commonly used to protect loved ones against the stresses of debt, whether inherited or through mortgages. You generally can add terminal or chronic illness cover to these policies.
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