Increasing Term Insurance

A type of term life insurance whereas the face amount (death benefit) increases over time (generally monthly or annually or in scheduled steps) throughout the life of the policy while the premiums stay level.

An increasing term policy can be useful when the owner or insured anticipates needing successively more coverage as time goes on.  One big difference between decreasing term and increasing term insurance is that with increasing term the premiums generally go up as the amount of insurance increases over time.

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