Minnesota Life Accident and Health Producer Practice Exam

Increasing term life insurance is designed so the death benefit grows over the term. As time passes, the amount paid to beneficiaries increases to reflect rising financial needs, such as a growing mortgage or longer-term expenses. Because the coverage amount is increasing, the cost to insure typically rises as well, so the premiums increase over the term. This type of growth is commonly provided as a rider attached to a base policy, rather than as a separate policy with its own cash value.