Do premiums for term life insurance coverage remain the same for the duration of your policy term?
That depends on the type of term life insurance plan you have.
Annual renewable term life insurance increases your premium each year if you choose to renew coverage for an additional year.
Whereas, level term life has level premiums that remain the same for the "term" of your policy, usually up to 30 years.
Other term life policies may have premiums that remain level for 5 year intervals, and then increase each five years you are insured.
To learn more, read this article: "Are Term Life Insurance Premiums Fixed?"
That depends on the type of term life insurance plan you have.
Annual renewable term life insurance increases your premium each year if you choose to renew coverage for an additional year.
Whereas, level term life has level premiums that remain the same for the "term" of your policy, usually up to 30 years.
Other term life policies may have premiums that remain level for 5 year intervals, and then increase each five years you are insured.
To learn more, read this article: "Are Term Life Insurance Premiums Fixed?"
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