Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Jun 30, 2021

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The Brief

  • Decreasing term life insurance is an affordable alternative to other types of life insurance
  • A decreasing term life insurance calculator can help you calculate how much life insurance you need
  • This type of insurance ends when the policy pays out or when the coverage period ends.

There are plenty of benefits to decreasing term life insurance that you may not know.

This type of life insurance could be excellent for covering a debt or other financial commitment that will be reduced in size over time. It could also be good for younger people, the best type of life insurance for 30-year-olds for example.

Read this guide to decreasing term life insurance to find out rates and companies that offer it. To quickly find decreasing term life insurance quotes, enter your ZIP code above. 

What is a decreasing term life insurance policy?

What is a term policy? is one of life insurance’s most frequently asked questions. Term insurance plans protect you for a set period of time, and they only pay out a death benefit if you die during that time.

The difference with a decreasing term life insurance policy is that coverage reduces at a specified rate over the policy’s life. These reductions happen either every year or every month. The premium payments, however, usually stay the same.

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How much are decreasing term life rates?

Since life insurance companies evaluate applicants differently, you may be able to get a much lower rate with one insurer versus another.

Checking quotes from different insurance companies while shopping for coverage is the top recommended way to guarantee you’re getting the best deal available.

What companies provide decreasing term life insurance?

Your decreasing term life insurance provider will be determined by the sort of life insurance you want, your location, and the amount of money you want to spend.

Insurers such as AIG, Prudential, and Farmers each have their own set of products. The best way to find out rates and get a sample decreasing term life insurance percentage is to find out what companies provide plans in your area.

Checking decreasing term life insurance rates is as easy as entering your ZIP code in our free comparison tool below.