Level Amount

What Does Level Amount Mean?

A level amount, or flat amount, refers to a fixed fee for a product or service that does not vary. In the context of insurance, it may refer to either the fixed premium price or the fixed benefit amount.

Insuranceopedia Explains Level Amount

It is recommended that anyone considering purchasing a policy receives thorough guidance from an insurance company representative or agent, in the spirit of due diligence. While an insurance illustration guide can provide detailed information with exact figures on payments and benefits, the information may feel overwhelming, especially for those unfamiliar with insurance terminology. Although flat rates and figures are included, they may be influenced by various factors such as deductibles, copayments, and future market conditions.