Level Term Life Insurance locks in the premium and value of the policy for a specified amount of time. The premium payments on a level term insurance policy can not increase and the face amount or death benefit value of the policy can never decrease while the policy is in effect. People typically purchase level policies for 10,15,20,25, or 30 year terms. These types of life insurance policies are appropriate for people whom are buying the insurance for mortgage protection or to cover the period of time when their children are in college. This protects their family in the event off their passing to replace the necessary income to cover outstanding debts.
If you are interested in buying a life insurance policy that never expires a universal life or whole life insurance policy may be a better choice for you. Though level term policies will never increase in price or decrease in value, they have a date of expiration. You may purchase a supplemental term life insurance policy at anytime prior to your level term policy expiring, though an additional medical exam may be required by the insurance provider. More detailed rates can be found at TermLifeInsuranceRateCompany.com or by starting the get quotes form above.Level Rates Guaranteed On Your Insurance Policy
When applying for level term insurance policy, the insurance carrier requires you to complete a medical exam, which consists of urine, blood specimens, and a standard physical examine. Your premium payments are based on your current health, as well as family history, driving records, and any hazardous activities you may partake in. The premium for a level term policy usually expires with the policy, however some insurance carriers offer renewable term insurance which will lock in your existing premium.
For more information on level term life insurance or for a free no-obligation term life insurance quote please click here!