Decreasing term life insurance is a life insurance policy in which the amount paid to the beneficiaries (death benefit) decreases over time. This type of insurance can be very suitable for many people with large current obligations that will decrease over time.
The main advantage of this type of policy is that it can be much less expensive than other types of insurance while tracking your financial needs as closely as possible to your life.
Examples of people who would use this type of policy are young parents or people with a new mortgage.