What Does Guaranteed Level Term Life Insurance Mean?
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63333 POINTSview profilePeggy MaceMost of the U.S.Guaranteed level term life insurance is life insurance that is guaranteed not to go up in price, or down in death benefit, for the entire term. E.g. If you took out a guaranteed level term life insurance policy of $1,000,000 in 30 year term at a rate of $100/month at age 31, you would be paying the same rate at age 60 as you were at age 30. If you passed away during those 30 years, your beneficiary would receive the full $1,000,000.Answered on August 8, 2013flag this answer
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNThe term "guaranteed level term life insurance" has to due with the premiums paid by the insured. For example, if you purchase a 20 year term life plan for $50 per month, the insurance company by contract is guaranteeing not to change your premiums for 20 years as long as you pay your premiums every month. This is regardless in change of health, occupation or residence. You are able to cancel the contract at anytime.Answered on July 30, 2014flag this answer
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