'Decreasing term' life insurance is BEST described as:

Explanation

Decreasing term life insurance has a level premium but a death benefit that declines over the term — most commonly designed to track an amortizing mortgage balance ('mortgage protection insurance'). As the homeowner's mortgage debt decreases each year, the insurance amount decreases in parallel, reducing the insurer's exposure and keeping premiums low and level. The policy expires at the end of the term with no cash value. Option A describes 'increasing term' (typically tied to inflation, used as a rider). Option C is fabricated; whole life does not convert to term. Option D describes 'decreasing premium' (rare; opposite of normal age-based pricing). The classic use case is matching mortgage payoff: $200,000 balance shrinks each year alongside coverage.