At Idaho Select Insurance, we help our Meridian, ID, customers understand their insurance options. This includes their choices for life insurance, like term life insurance versus whole life or permanent insurance. But there are also choices when it comes to term life insurance policies.

One of those options is "decreasing term insurance," which may help preserve your home for your family after you die.

How It Works

The coverage amount of a decreasing term policy is designed to lessen as the term period progresses. This coverage amount can coincide with the balance on the mortgage of your home.

As your mortgage balance is reduced through your payments, your life insurance protection lessens. Ultimately, the coverage would expire when the mortgage is paid off.

Decreasing term life insurance is one of the most cost-effective ways to provide life insurance protection over a specific period because you are only paying for what you need.

Decreasing term life insurance can be an effective tool for your family to help cover a large car loan or a particularly risky period, such as when your children are young.

In general, term insurance is a cost-effective way to acquire large amounts of life insurance. Decreasing term life insurance may amplify that value even more. Remember, life insurance is most cost-effective if you purchase it when you are young and healthy. 

Get a Quote

If you reside in the Meridian, ID, area, and would like to know more about decreasing term or other life insurance options, contact us at Idaho Select Insurance.