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Decreasing Term Life Insurance is a type of life insurance where the death benefit decreases over time, typically in line with a mortgage balance. This means that as the mortgage is paid down, the coverage amount decreases accordingly. It is designed to provide financial protection against the risk of the borrower passing away and leaving the mortgage unpaid. It can be a cost-effective way to ensure that mortgage debt is covered, but it is important to understand how the coverage changes over time.

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