Decreasing-Term Insurance. What is decreasing-term insurance? Why would someone purchase this type of life insurance? (Select the best answer below.) O A. A common type of term insurance is decreasing-term insurance, in which the insurance benefits to the beneficiary are increased over time. The premium paid for the insurance remains constant over the term. OB. A common type of term insurance is decreasing-term insurance, in which the insurance benefits to the beneficiary are reduced over time. The premium paid for the insurance remains constant over the term. OC. A common type of term insurance is decreasing-term insurance, in which the insurance benefits to the beneficiary are reduced over time. The premium paid for the insurance increases annually over the term. D. A common type of term insurance is decreasing-term insurance, in which the insurance premium to the beneficiary are reduced over time. The benefits paid for the insurance remains constant over the term. Why would someone purchase this type of life insurance? (Select the best answer below.) O A. This type of insurance is popular for families because it provides a relatively high level of insurance in the earlier years when it is most needed. As time passes, a family can accumulate savings, pay off part of a mortgage, and increase their investments, so smaller life insurance benefits are needed. OB. This type of insurance is popular for families because it provides a relatively high level of insurance in the earlier years when it is most needed. As time passes, a family can reduce savings, take a second mortgage, and decrease their investments, so smaller life insurance benefits are needed. OC. This type of insurance is popular for families because it provides a relatively high level of insurance in the later years when it is most needed. In the beginning, a family can accumulate savings, pay off part of a mortgage, and increase their investments, so smaller life insurance benefits are needed. OD. This type of insurance is popular for families because it provides a relatively low level of insurance in the earlier years when it is most needed. As time passes, a family can accumulate savings, pay off part of a mortgage, and increase their investments, so larger life insurance benefits are needed