What Does Level Term Mean In Life Insurance? 
It 's a type of term policy where the face value remains the same from the effective date until the expiration date , it would also mean a period of time the premiums would remain level . For example , the 5 , 10 , 15 , 20 , 25 & 30 . However , after the level premium period most policies turn into Annual Renewable Term where the premiums increase annually . Some policies you can convert before age 60 or 65 into a permanent policy . 