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29 October, 03:55

What type of life insurance are credit policies issued as?

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  1. 29 October, 04:04
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    They are considered decreasing term policies. In these policies, the benefits usually decrease over the life of the policy: that is, the closer one gets to the end of the policy term, the less the benefit will typically be. At the end of the term, there is no option to renew for the same premiums, and the policy simply expires.
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