What does Level Term mean?

Level Term refers to the period of time for which you have level premiums for your life insurance coverage, and the length of time your life insurance policy will provide coverage.

For example, a 10 year level term policy with $250,000 of coverage for $300 per year:

Based on the above example, you would have life insurance protection for a period of 10 years. Each year you would pay $300 to the insurance company for your life insurance policy. If you die within that 10 year period before the policy expires, your beneficiary would receive the $250,000 death benefit from your life insurance policy.

So, your premiums remain "level" for the entire "term" (duration) of your term life insurance policy. In addition, the amount of life insurance provided by your policy remains the same each year for the entire term.

Level term insurance is the cheapest type of life insurance available for a period of 30 years or less. In addition, there are level term life insurance policies with no health exams required. You may even be able to start your level term life plan today, if you qualify.