Permanent life insurance plans have guaranteed level rates for the rest of your lifetime.
Whereas, term life insurance plans have level rates for the duration of your term. Most term life plans offer level rates for a term of 10, 15, 20 or 30 years.
Once your term expires, you may purchase another term policy at a new rate based on your age at that time. Or, you may be able to renew your term life policy for another term, with a higher rate, but no health exam required to prove your insurability.
Keep in mind, term life insurance rates are much lower than permanent life insurance because term life is temporary and many people outlive the duration of their term life policy.
Here's how you can compare life insurance rates online today.