Is Term Life Insurance Guaranteed? 
There are guarantees in a term life insurance policy . Normally the premium is guaranteed both for the term specified and future renewals if the owner decides to exercise that option . Often there is a guarantee of insurability that allows a policyholder to convert the policy to a permanent form of life insurance . The death benefit is guaranteed to remain the same as long as premiums are paid on time . There can be other guarantees such as waiver of premium . 