insurence exam LIC AAO Mock Test 2023 General Knowledge

Why is Mortgage Redemption Insurance (MRI) referred to as 'Decreasing Term Assurance'? 

1
Cover remains Constant throughout the Policy Period.
2
Cover decreases along with the Policy-Term.
3
Cover increases along with the Policy-Term.
4
Premium increases with the Policy-Term.
5
Premium decreases with the Policy-Term.
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