What Is Guaranteed Level Term Life Insurance?

  1. 4330 POINTS
    Jerry Vanderzanden, CLU, ChFC
    Co-Founder, Coastal Financial Partners Group, California
    Guaranteed level term life insurance provides coverage for a limited period of time for temporary protection needs. The premium is guaranteed and level for the initial period of coverage which is generally from 5 to 30 years. After that, the coverage expires or may be continued for a much higher (usually cost prohibitive), annually increasing premium.
    Answered on May 18, 2013
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  2. 0 POINTS
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    David RacichPRO
    Fountain Hills, Arizona
    Term life insurance is temporary coverage to indemnify beneficiaries against economic loss at the death of the insured. T.E.R.M. = Temporary Expense Reimbursement Money. The term life insurance market offers guaranteed coverage for a specific duration of time: 5, 10, 15, 20 and 30 years.
       
     
    Answered on May 18, 2013
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  3. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    Guaranteed level term life insurance refers to the premium cost assigned to the policy for a specific period of time. For example a term life policy may have guaranteed level premiums for 5-10-15-20-25-30-35 years without increasing regardless of your change in health or employment. The life insurance company is assuming the risk.
    Answered on November 26, 2014
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  4. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    When a policy is designed to be "Guaranteed Level Term" it means that the premium that you pay for the coverage provided will remain the same for a specific time certain, guaranteed. Thes policies are usually offered in increments of 10, 15, 20 and 30 year terms meaning that the premiums are guaranteed to remain the same for the nomber of years you buy regardless of your increased age or any changes in your health. That having been said, at the end of that guaranteed term your premiums would more than likely substantially increase and would continue to do so as long as you maintain the policy in force.
    Answered on December 1, 2015
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