What Does Guaranteed Level Term Life Insurance Mean? 
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 . 