Increasing term
| Term Policies: Increasing Term |
| Description |
Premiums |
Cash Value |
Advantages |
Disadvantages |
Uses |
| Increasing protection over the term (often as rider to another policy) |
Usually will go up to reflect increased insurance coverage |
None |
Amount of protection increases over time |
Coverage (and resulting premium increases) may increase beyond the need |
As counter to erosion of policy proceeds by inflation; Assured purchase of more insurance without evidence of insurability |
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