Life insurance becomes more expensive as you get older. You can lock-in a lower rate for the duration of your term life policy when you are young.
That’s why most people choose to purchase a Guaranteed Level Premium Term Life Insurance policy to protect their family’s future.
Term life insurance rates remain the exact same each year for the entire period selected, from 1 to 30 years.
Some life insurance carriers offer term life policies of 10, 15, 20, 25 and 30 years in length with premiums that remain the same, and coverage amounts that stay level throughout the entire term.