What aspect of decreasing term insurance changes over time?

In decreasing term insurance, the face value, or death benefit, is structured to decrease over the duration of the policy. This means that as time progresses, the amount that would be paid out upon the insured’s death gets smaller. This type of insurance is often used to cover obligations that decline over time, such as a mortgage or other debts, which is why the policy is designed to reduce its coverage as those financial responsibilities decrease.

The premium amount generally remains level throughout the life of the policy, which distinguishes decreasing term insurance from other types where premiums may vary with coverage amounts or duration. The coverage period is predetermined and remains constant, meaning it does not fluctuate as time goes on. The insured age limit pertains to the age at which a policy can be purchased or will remain in effect, which typically does not change due to the nature of the policy itself. Therefore, the defining feature of decreasing term insurance is the decreasing face value, making that aspect the correct focus in this context.