What Does Level Term Mean In Life Insurance? 
Most term insurance is level which means the premium does not change for the specified period of time . All other factors being equal , the longer the `` level '' period , the higher the premium charged . All with all term policies , they may be surrendered at anytime without a cancellation fee . If you own term , you may wish to compare coverage if your health has improved or as time elapses after a negative medical occurrence . 