What Does Level Term Insurance Mean?
Level term insurance is a type of life insurance in which coverage is provided for a specific period of time, over the course of which the value of the death benefit and the price of the premiums do not change.
This is an alternative to other types of life insurance where both premium prices and death benefit values can both change significantly over the course of the policy period.
Insuranceopedia Explains Level Term Insurance
Level term insurance commonly lasts for periods of either ten or twenty years; however, some policies do deviate from these lengths.
Level term insurance is a good life insurance option for people who value the stability and predictability of unvarying benefits and premiums. It is, however, not the best option for policyholders who would prefer to make the face value of their policy increase with an investment component.