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What are the types of decreasing term insurance available?
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There are generally 2 types of decreasing term insurance available. The first type is concerned with protecting a mortgage or loan. This type of insurance is usually issued as a basic plan and the premium is paid in one lump sum at the onset of the policy. The other type is concerned with providing greater protection in the earlier years of the policy. It is usually issued as a rider on a basic plan and the premium is payable every year, together with the premium of the basic plan of insurance. << Back |
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