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maw [93]
3 years ago
14

Renee Warning has a life insurance policy where the payments to beneficiaries get smaller as time passes. What type of term life

insurance does Renee likely have?
Business
1 answer:
Agata [3.3K]3 years ago
7 0

Answer:

<em>Decreasing term insurance</em>

Explanation:

Decreasing term insurance <em>is renewable life insurance with a predetermined rate of  decline in coverage over the life of the policy</em>.  

Premiums are generally continuous throughout the agreement,  and <em>there are typically monthly or annual reductions in coverage</em>.  

The idea behind the insurance maintains that certain obligations and  the associated need for elevated insurance rates are declining with age.

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