Decreasing term insurance

Feb 5, 2008

  1. loginname
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    loginname Expert

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    Who sells this product? A partner of mine has a client asking about it. He wants to be able to provide a quote and compare to level term.
     
  2. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    This product is a dinosaur.

    Used to be used for mortgages, but since term insurance has become so cheap, there's no need for it anymore....
     
  3. loginname
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    loginname Expert

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    I know, but I need a quote for comparison purposes. I know companies are still writing it, but they are the rinky dink companies.
     
  4. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    There's a decent chance that a level 20-year term will be less expensive than a mortgage term from one of those "rinky dink" companies.
     
  5. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    My point exactly Ed. Who offers it?
     
  6. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Good question. I have seen them as riders on permanent policies, but not stand alone policies.
     
  7. Winter_123
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    Winter_123 Guru

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    To answer your question, Old Mutual/Fidelity and Guaranty offers it. I certainly doubt that there is anyone who offers an underwritten decreasing term product. So you are going to have to compare decreasing non-med term to basic non-med term.

    Winter
     
  8. arnguy
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    arnguy Guru

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    A few years ago a company called Family Life offered it. I don't know if that still holds true, but it may be worthwhile to check it out ("google").
     
    arnguy, Feb 5, 2008
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  9. ims01
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    VBA offers one also. But like everyone said. It is junk and will not save your client any money.
     
    ims01, Feb 6, 2008
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  10. jaguar99
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    jaguar99 New Member

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    American Income Life ( a Torchmark Company) offers this and the most expensive 10-year term on planet earth. Since the level term is so expensive, there are agents who suggest this product (because of the way it amortizes) as a form of income protection as well.
     
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