Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

What Is Level Term Life Insurance?

Level term life insurance policies allow you to secure coverage for a specific “term” — or period of time — while keeping your premiums the same throughout the life of the policy. With a term life insurance plan, your beneficiaries will receive a death benefit payment if you die while your policy is in force.


Family of four smiles by fountain

Do Premiums Increase With Term Life Insurance?

Level term life insurance premiums remain constant for specific periods of time. This could be for the life of the policy or for a shorter period, such as 15 years or 25 years. After this period, premiums might rise each year or in set periods of time.

The exact billing structure of a level term life insurance policy will depend on the insurance company who sells it.

Because they can guarantee a predictable premium over a long period of time, level term life insurance policies can be desirable for those who want predictable longer-term coverage. Because the premiums don't increase over time like other types of term policies, your premiums may be higher than other term policies at the outset. But over time, because they don't increase, they could be less than those of policies with increasing premiums.

You can compare this to another form of term life insurance: yearly renewable policies. With these plans, your premiums start low but rise each year. They can grow considerably larger as you age, depending on when you bought your policy and other factors that your insurance company might consider.

Do I Need Life Insurance?

Six in 10 Americans report having a life insurance policy. As the Insurance Information Institute notes, life insurance can help do the following:

  • Support your dependents’ income
    If you have dependents who rely on your income, such as children or a spouse, life insurance can help replace your income if you pass away. This can help your family maintain the lifestyle they're used to.

  • Pay end-of-life expenses
    The median cost of a funeral with a viewing and burial in 2014 was $7,181, according to national estimates. Life insurance can help your loved ones pay these costs
  • Support charitable causes
    You can designate charities and other organizations as beneficiaries. That means your death benefits can support causes you believe in and help you leave a lasting legacy for others.

Finding the right life insurance policy for you — and choosing what to do with your death benefit payout — will depend on the unique needs of you and your family.

Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

Related Information

Understanding Term Life Insurance

Protect your family from facing a financial burden after your death with a term life insurance policy.

Read More

What are the Benefits of Term Life Insurance?

With a term life insurance policy in place, you can help your family cope with loss of income after your death.

Read More

Term Life Insurance

Find and compare term life insurance quotes with the help of a licensed agent.

Read More

Term Life Insurance Coverage: What You Need to Know

Term life insurance covers you for a set period of time that can last anywhere from one to thirty years. Learn more about term life insurance benefits.

Read More

Why Some Term Life Insurance Premiums are Higher than Others

If you're considering purchasing term life insurance, you should be aware of several factors that can influence your premiums.

Read More

Group Term Life Insurance Benefits and Plans

Group term life insurance is offered by an organization to its employees as a benefit. The benefits help protect your loved ones financially if you pass away.

Read More

When is Convertible Term Life Insurance Right for You?

Convertible term life insurance allows you to extend the life of your policy by converting it to a permanent life policy. Here's how.

Read More

Is Term Life Insurance Right for Your Family?

Term life insurance policies for adults and riders for children help your whole family in the event of tragedy. Discover the benefits of term life.

Read More

What Is Term Life Insurance Able to Cover?

Term life insurance pays a death benefit to the policy beneficiary if the policyholder dies within the term of the policy.

Read More