Level-premium insurance is a type of life insurance in which premiums stay the same price throughout the term, while the amount of coverage offered increases.
What is a level premium term life insurance policy?
A level premium term life insurance plan lets you stick to your budget while you help protect your family. Unlike some stepped rate plans that increases every year with your age, this type of term plan offers rates that stay the same for the period you choose, even as you get older or your health changes.
What is a convertible term life policy?
Fixed/level premium pattern:\n\n A fixed or level premium pattern's premium will either stay the same through the duration of the policy or increase by a fixed amount every year for the duration of the premium.