A decreasing term life insurance policy features a death benefit that decreases in a specified manner over time. If your death benefit decreases under the terms of the policy, Assuris will base its protection on the sum insured at the date of failure. After the date of failure, your death benefit will decrease based on the protected amount.
An increasing permanent life insurance policy features a death benefit that rises in a specified manner over time. If your death benefit increases under the terms of the policy, for example by inflation adjustments, it will be protected based on the sum insured at the date of failure. After the date of failure, your death benefit will increase based on the protected amount.
An adjustable death benefit life insurance policy allows the policyholder to make changes to their death benefit. If your policy allows for an adjustment of the death benefit amount, the death benefit amount of the policy at the time of failure will be used to determine its protection under the death benefit protection. After the date of failure, subsequent adjustments will be made on the protected amount.
An adjustable cash value life insurance policy allows the policyholder to make changes to the cash value in their policy. If the cash value in your policy is adjustable, Assuris will base its protection on the sum insured at the time the company fails. After the date of failure, subsequent adjustments will be made on the protected amount.