Level Term Life Insurance?

What is level term life insurance and how does it work?

Level term life insurance is a form of life insurance that provides temporary coverage for a set period of time.

For instance, there is 10, 15, 20 or 30 year level term life insurance which provides a level amount of life insurance for the term (duration) of the coverage. The premiums stays the same each year of the term for your policy.

However, the term life insurance plan may continue until you reach a certain age, for example, age 65 or 70, but the premiums are level for the first 10, 15, 20 or 30 years of the policy, and then increase.

In addition, you may have the option of buying a renewable term life plan. This means you can renew the term life policy when it expires.

For example, if you have a 20 year term life plan that is renewable, you may renew the policy after 20 years ends, and not have to take a physical exa, but your rate for the life insurance will increase at renewal based on your age at that time.

Level term life insurance is the most popular type of life insurance because it offers the most life insurance protection at the lowest price.

In addition, it offers you the flexibility of choosing coverage for the period of time you really need your life insurance.

Here's how you can learn more and compare level term life insurance rates online among leading life insurance carriers.