Level Premium

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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 ?
The product features guaranteed level premiums, death benefits and cash values.
A little more than a decade ago, as Regulation XXX was being introduced in the life insurance industry and term insurance products were being developed with guaranteed level premiums followed by indeterminate or non-guaranteed premium rates beyond that initial guarantee period, not much thought was given to the level of the rates beyond the guarantee period.
The product has guaranteed level premiums, guaranteed cash value and guaranteed death benefits.
In the first "level premium" scenario, constant annual level premiums [B.
Slunaker added that employees, and not just employers, would benefit from level premiums, as employees pay about 25 percent of workers' comp premiums.
So, when presented with a life settlement investment opportunity, the first question you must ask is not how much is placed in escrow to pay premiums but how many years will the estimated level premiums carry the policy.
Also, ensure you can afford the premiums later on, as you will pay a higher premium than if you had opted for level premiums initially.
has announced that all of its policies will now carry a guarantee of level premiums for 10 full years from the date of issue.
The catch: after the level premiums are paid, you'll have to take another medical exam if you want coverage to continue.
8) The guideline premium limitation provides that the premiums paid under the contract at any time must not exceed the greater of the guideline single premium or the sum of the guideline level premiums to that date.
Consumers pay lower level premiums for the first five policy years, which will increase in year 6 to higher guaranteed* level premiums, and remain level throughout the selected lapse protection duration of the policy.
OneStep Life offers lower premiums for the first five policy years which will increase in year 6 to higher guaranteed level premiums, and remain level throughout the selected lapse protection duration of the policy.