Decreasing Term?

[policy doctor]

I thought wl is a combination of DT and cash value. That;s why when you borrow against your cash value, the face amount drops. That's why it's overfunded in the beginning.

Only 2 kinds of insurance....term or term + cash value (wl,ul,eil)

 

[Chris235]

I feel the same way. My dad wants it for his wife. I think he wants it to pay off the mortgage.

Most people buy DT with the idea that they'll pay off their mortgages, as as they get older they'll have less bills and need less insurance....the problem is that most people don't pay off their mortgages in the loan period anymore, people refinance and people still run their bills up. I personally think it's a bad idea, it's cheaper to begin with; but you get what you pay for...