level benefit term life insurance definition
Level Term Insurance. A term life insurance policy in which premiums remain the same throughout the term. Most level term policies have lives of 10 or 20 years, but this is not always the case. The distinguishing feature is that both the death benefit and the premium are fixed for the life of the policy.ith a level term life insurance policy, your annual premium remains the same for the term, which may be as long as 10 or 20 years.