Level Premium

Level Premium

A premium on a term life insurance policy that remains the same throughout the term. A level premium is higher than other policies with similar coverage, but the coverage increases over the term of the policy. This means that by the end of the term, the premium is lower than other policies with similar coverage. See also: Level premium insurance.
References in periodicals archive ?
Most policies are called level premium term, the death benefit and the cost or premium are "level," or stay the same, throughout the term.
With improving mortality, a life insured will pay premiums for longer on level premium life insurance and the insurer will pay out more annuity payments as annuitants live for longer.
Prices start at PS33,990 for the entry level Premium specification and the Q60 comes with state-of-the-art features such as Infiniti's second-generation direct adaptive steering and a new dynamic digital suspension with drive mode selector.
It is essentially a hybrid combination of universal life and ordinary level premium participating life insurance.
The product came about in an attempt to make available a product with more level premium pricing to fulfill the changing requirements of financial adviser and their clients.
Insurance Commissioner Emmuanuel Dooc earlier expressed confidence that the country's insurance industry would exceed in 2015 its highest level premium income in history after the sector grew 42 percent in the first semester of the year.
Instead they offer a compulsory 5% per year increase on the current premium to keep the existing benefits or alternatively decrease the existing benefits by 5% per year and keep the current level premium.
At the given level premium vs BFL forms 230 bps, which fits the level where the loans with similar duration are trading -MOESK MBa1 and MBa2, IRNC Center MBa1.
Adding to the complexity, while experience immediately after the level premium period has started to materialize, subsequent lapse rates and ongoing mortality deterioration are unclear.
For level term products, there is mortality and lapse experience after the level premium period.
New York Life and subsidiary products endorsed by AARP include Whole Life, Custom Universal Life Guarantee, Level Premium Convertible Term 5 Year, Level Premium Convertible Term 20 Year, Fixed Deferred Annuities and Guaranteed Lifetime Income Annuities.
of New Jersey in NY, if available) Level premium period Coverage to 65, regardless of age at which policy is purchased Minimum & maximum face $100,000 min.