Meaning & use
decreasing term life assurance
Last updated
Meanings
noununcountablefinanceBritish
A life insurance policy whose payout falls over the years while the premiums stay the same, often used to cover a mortgage.
Grammar: Uncountable, so no plural: say 'a decreasing term life assurance policy' if you need to count it.
Patterns
- take out decreasing term life assurance
- a decreasing term life assurance policy
- decreasing term life assurance covers something
They took out decreasing term life assurance so the payout would shrink along with their mortgage.
Decreasing term life assurance is cheaper than level term cover because the sum insured falls each year.
Her adviser explained that decreasing term life assurance is designed to match a repayment loan.
noununcountablefinancebusiness
This type of cover considered as a product sold by insurers.
Grammar: Used without 'a' when talking about the product in general.
Patterns
- sell decreasing term life assurance
- compare decreasing term life assurance
The broker compared decreasing term life assurance with level term policies.
Fewer banks now sell decreasing term life assurance directly.
Common combinations
- decreasing term life assurance policy
- Their decreasing term life assurance policy runs for twenty-five years.
- take out decreasing term life assurance
- We took out decreasing term life assurance when we bought the house.
- decreasing term life assurance cover
- Decreasing term life assurance cover is often paired with a repayment mortgage.
- level term life assurance
- Unlike decreasing term life assurance, level term life assurance pays the same amount throughout.
Synonyms and how they differ
- mortgage protection insurance
- A broader everyday term for cover that pays off a home loan; it may or may not decrease in value.
- decreasing term insurance
- The common American wording; 'assurance' is the usual British term for life cover.
Opposites
Word family
Commonly confused: decreasing term life assurance or insurance? decreasing term life assurance or decreasing term insurance?
decreasing term life assurance vs insurance
'Assurance' in British English usually means life cover, which is certain to pay out eventually; 'insurance' covers events that may or may not happen.
decreasing term life assurance vs decreasing term insurance
Same idea, but the American wording; use 'assurance' with British providers.
Practice
Which sentence uses the term correctly?
Choose one answer.
The term is uncountable, so it takes no article and no plural: 'decreasing term life assurance'. Option 1 wrongly adds 'a', and option 3 wrongly makes it plural.
Make it your own
Write a sentence using “decreasing term life assurance”, then check it and compare it with the examples above.