1. 15645 POINTS
    Edward HarrisPRO
    Owner, Best Health And Car Insurance Rates - Instant Online Quotes, US
    A 20-year level term insurance policy is a contract where the premium and face amount (death benefit) are guaranteed for 20 years. Many large and reputable carriers issue these type of policies.

    You are not obligated to keep coverage for the full term and there may be conversion options available.

    They are actually among the most popular term life insurance plans available to consumers and can be very affordable, depending on your age.

    A full-time experienced broker can help determine the best face amount of coverage, but also find the lowest rates and provide the best information.
    Answered on June 4, 2013
  2. 0 POINTS
    David RacichPRO
    Fountain Hills, Arizona
    20 Year Level Term Life Insurance is a guaranteed level premium for a 20 year period of coverage based on the policy insured’s gender, age, smoking status and health condition. It requires economic justification for the amount of death benefit coverage and insurable interest between the policy beneficiaries and the insured. 
    Answered on June 4, 2013
  3. 1492 POINTS
    Jeff DavisPRO
    Insurance Advisor, Lordship Insurance Services, California
    Term poicies last for a certain period. You can purchase a 20 year term which will give you both a level death benefit and level premium for 20 years. At the end of 20 years the policy will end. Many times these policies carry a conversion option so you can actually convert them to a permanent plan as long as you do it within the 20 year period. The benefit to these convertible plans is you don't have to pass an insurance exam when you are ready to convert.
    Answered on June 5, 2013
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