In decreasing-term insurance, the premiums paid _________ over time.
A. Increase
B. Decrease
C. Remain constant
D. Are returned
Answer: Option C
Solution (By Examveda Team)
In decreasing-term insurance, the premiums paid remain constant over time. Decreasing term insurance is renewable term life insurance with coverage decreasing over the life of the policy at a predetermined rate. Premiums are usually constant throughout the contract, and reductions in coverage typically occur monthly or annually.
3» ________life insurance pays off a policyholder s mortgage in the event of the person s death.