What Does Guaranteed Level Term Life Insurance Mean? 
The 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 . 