Term Life Insurance / Level Term Insurance
With a level term insurance policy (also called "straight"
policy), both the death benefit and the premium are fixed for the length
of the policy, usually 10 or 20 years. With raising insurance costs,
lever insurance has the advantage that you lock in a certain rate for
the period of the policy. The policy’s disadvantage is that rates
will soar if you decide to renew with another level policy.
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