Level Term Life Insurance

Level term life insurance is the most common form of term life insurance. Both the death benefit and the premium remain fixed — "level" — for the entire term of the policy, which typically spans 10, 15, 20, 25, or 30 years. At the end of the term, coverage expires unless renewed (usually at significantly higher rates reflecting the insured's older age) or converted to a permanent policy. Level term is known for offering the largest death benefit per premium dollar of any life insurance type, making it the preferred choice for income replacement, mortgage protection, and family protection during working years. Many policies offer a conversion privilege that allows policyholders to convert to permanent insurance without evidence of insurability.