Decreasing term insurance
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- 9,744
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....
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- #3
- 10,275
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.
- 9,744
My point exactly Ed. Who offers it?
- 10,275
Good question. I have seen them as riders on permanent policies, but not stand alone policies.
- 2,908
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
- 7,790
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").
- 608
VBA offers one also. But like everyone said. It is junk and will not save your client any money.
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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