Question 17 of 20 One type of term life insurance pays a monthly income benefit to the insured's surviving family members for a specified period if the insured dies during the term of coverage. Under this type of insurance, the longer the insured lives after the policy is purchased, the shorter the monthly benefit period. By definition, this type of term life insurance is a form of level term life insurance known as family income coverage decreasing term life insurance known as family income coverage level term life insurance known as credit life insurance decreasing term life insurance known as credit life insurance