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IncomeSense Decreasing Term Life Insurance

Discover how easy it can be to help safeguard the financial future of your loved ones with guaranteed monthly income.

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What Is Decreasing Term Life Insurance & How Does It Work?

IncomeSense is life insurance protection that will provide your family with a monthly payout to help cover a mortgage payment or income replacement if you pass away. It’s a type of policy known as decreasing term life insurance, with coverage that decreases monthly until the last 5 years of the policy and insurance premium rates guaranteed to never increase.

Let’s say you are 35 and purchase a 30-year policy (coverage until you reach 65) that, upon death, pays out $2,500 per month. If you die five years later at age 40, your family would receive $2,500 per month for 25 years ($750,000 total payments). Your beneficiary is guaranteed a minimum five-year payout. So in this example, if you die at age 62, your family would receive $2,500 per month for five years ($150,000 total). The monthly benefit will never change. The total benefit will depend on your policy duration and when the payouts begin.

What Does Decreasing Term Life Insurance Cover?

Mortgage Payments

Your home may be your family's most valuable asset. And your mortgage payment? It may well be your largest monthly outlay. To help protect your family, protect their home ownership. Receive your quote in seconds!

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Income Replacement

For many people, their earning power over their career is their most valuable financial asset – it helps safeguard their family’s future well-being. To help protect your family, protect your income. Receive your quote in seconds!

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What Are the Benefits of Decreasing Term Life Insurance?


  • 8 questions for your free quote
  • Easy online application provides coverage in minutes
  • No medical exam required
  • Agents on standby to help via phone, chat or email — but only if you want


  • Guaranteed monthly payouts if your premiums are paid to help pay your family’s monthly expenses
  • Monthly Insurance premium rates guaranteed to never increase
  • Issued by a member company of one of the world's strongest life insurance groups


  • Monthly payment coverage up to $5,000 or more depending on your age and policy duration
  • Coverage for durations up to 30 years (not beyond age 65)
  • Available for ages 20-55

Are You Eligible for Decreasing Term Life Insurance & How Long Can You Be Covered?

U.S. citizens and permanent legal residents ages 20-55 are eligible to apply. Most applicants will be accepted, but some may not meet underwriting requirements.
Duration options are 10, 15, 20, 25 and 30 years or until age 65. However, coverage cannot be offered beyond age 65. For example, someone age 40 can have a maximum of 25 years of coverage.
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How Do You Decide the Duration/Term of Coverage?

When deciding on the term or duration of the policy, some factors to consider are:

  • Your age: the policy can cover you until you reach age 65
  • The ages of your children: how long you need to support them
  • If you have a mortgage: how many years remain on your mortgage

Many customers choose to match the duration to their mortgage, to age 65 (around their retirement) or to some other milestone of financial protection for their family and dependents.

How Much Coverage Can You Get?

Monthly coverage amounts range from $500 to $10,000 a month (for those who qualify). Coverage is capped by either your monthly income, or a maximum based on your age and policy duration per the two tables below. Additionally, coverage duration is capped by your age as shown in the table below. In some cases, starting coverage can be as high as $1,800,000 ($5,000 per month for 30 years).

Annual coverage (12 monthly payments) is capped at a percentage of your gross income, as follows:

  • Ages 20-30 – Capped at 150%
  • Ages 31-40 – Capped at 125%
  • Ages 41-55 – Capped at 100%

Monthly coverage is also capped by your age and duration of the policy, as follows:

Coverage Period Age 20 - 34 Age 35 - 39 Age 40 - 43 Age 44 Age 45 - 49 Age 50 Age 50 - 51  Age 52 - 55
 To age 65   $5,000 $6,000 $7,000 $7,000 $7,000 $7,000 $7,099
 30-year term $5,000              
 25-year term $6,000 $6,000            
 20-year term $7,000 $7,000 $7,000 $7,000        
 15-year term $9,000 $9,000 $9,000 $9,000 $8,500 $7,000    
 10-year term $10,000 $10,000 $10,000 $10,000 $10,000 $7,099 $7,099 $7,099

As an example, consider a 35-yr old making $60,000 per year ($5,000 per month). The monthly payments would be capped at 125% of gross income, or a maximum of $6,250 per month. Additionally, the maximum payments would be capped based on age and policy duration. If a 30-yr policy were purchased, the maximum payment would be $5,000 per month ($1,800,000 of initial coverage over 30 years). If, instead, a 20-yr policy were purchased, the maximum payments could be $7,000 per month based on age and policy duration, although the income cap of $6,250 would then become the cap. In that case, the maximum starting coverage would be $1,500,000 ($6,250 per month for 20 years).

How Do You Decide How Much Coverage to Get?

This policy is designed to provide your family with a monthly payment, so it depends on your family’s needs. If you are purchasing this to protect their ability to stay in your home, we advise covering your entire monthly mortgage payment (which includes principal, interest, taxes and home insurance). If you are looking to replace your family’s lost income, then we advise covering an amount equal to your after-tax monthly income (as life insurance proceeds are typically not taxable income to your family).

How Much Does Decreasing Term Life Insurance Cost?

Pricing varies upon coverage amount, duration of policy and underwriting results. Getting a quote takes less than a minute. Two examples (your cost may differ):

  • A male age 30 could ensure monthly payouts of $2,500 for 30 years (starting coverage of $900,000) for as little as $39 per month.
  • A female age 45 could ensure monthly payouts of $3,000 for 20 years (starting coverage of $720,000) for as little as $44 per month.
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Products distributed by Insurance Profillment Solutions and issued by Western-Southern Life Assurance Company (WSLAC), Cincinnati, OH. WSLAC operates in DC and all states except NY. Both are members of Western & Southern Financial Group. Issuer has sole financial responsibility for its products. Policy approval and actual rates will be based upon the underwriting process, including but not limited to, additional information provided on the application. Product and feature availability, as well as benefit provisions, vary by state. Income benefit individual decreasing term life insurance policy series ICC20 2006-4003-W WSA, ICC20 2006-4003-R WSA. Insurance Profillment Solutions is known as Gerber Life Agency, LLC in most states; name change pending in some states.