Does Term Life Insurance Decrease In Value? 
Most people who buy term life insurance are buying level term coverage , meaning the premiums and death benefit remain fixed and guaranteed for a specified number of years -LRB- e.g. 10 , 15 , 20 , 25 , or 30 years -RRB- . Once the initial period of premium guarantee expires , the premiums would change to annual renewable term insurance and increase each year -LRB- based on age -RRB- . Policies with fixed premiums and a decreasing face amount over a specified time period are usually a form of mortgage life insurance . These types of policies are usually offered by banks and credit companies , however , the rates are generally about the same as a traditional level term life insurance policy so you 're not really going to get an added benefit to the mortgage policy . . For that reason , I would recommend locking in a level term policy over a mortgage life policy . I hope the information is helpful - please feel free to contact me for assistance with your coverage , including quotes and poilcy comparisons , and if you have any other questions . Thanks very much . 