1. 1313 POINTS
    Lenny Robbins
    Principal, LifeNet Insurance Solutions, Redmond, WA
    Most term insurance is level which means the premium does not change for the specified period of time. All other factors being equal, the longer the "level" period, the higher the premium charged. All with all term policies, they may be surrendered at anytime without a cancellation fee. If you own term, you may wish to compare coverage if your health has improved or as time elapses after a negative medical occurrence.
    Answered on October 31, 2014
  2. 1045 POINTS
    Karl Renwanz
    Renwanz Insurance & Financial Solutions, Carlsbad, CA
    Level term life insurance generally refers to the fact that the monthly payment or premium you pay to the insurance company is the same each month for the specified term of that term life insurance policy. If you purchase 20 year term life insurance and it is
    'level term", your premiums would not change during that 20 year term period.
    Answered on October 31, 2014
  3. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    Level term life insurance refers to two things. One is the premiums or payments are guaranteed level or cannot increase for a specific period of time. The second is the face amount is also level which means it cannot increase or decrease during the same time period. You can find terms from annual to 5-10-15-20-25-30-35 years in the market place.
    Answered on October 31, 2014
  4. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    The term, “level term” distinguishes a policy from a “decreasing term” policy. Decreasing term insurance was quite popular to provide coverage that matched the declining balance on a mortgage. The death benefit of level term remains constant throughout the policy period. Normally, the premiums also remain level until the end of the term.
    Answered on October 31, 2014
  5. 230 POINTS
    Christopher Downing
    Independent Insurance Broker, Quote Me 4Life Insurance, Inland Empire, CA
    It's a type of term policy where the face value remains the same from the effective date until the expiration date, it would also mean a period of time the premiums would remain level. For example, the 5, 10, 15, 20, 25 & 30. However, after the level premium period most policies turn into Annual Renewable Term where the premiums increase annually. Some policies you can convert before age 60 or 65 into a permanent policy.
    Answered on November 3, 2014
  6. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Level term means that the premium and face amount stay level, without any dips or rises, during the time frame specified. E.g. A $100,000 ten year level term policy with a cost of $10/mo would keep that same face amount and price for 10 years. When the 10 years end, the price can go way up. Not all level term policies are guaranteed level, so it is important to make sure you are getting the real deal.
    Answered on November 3, 2014
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