Does Term Life Insurance Guarantee My Rate?

If I buy a term life insurance policy is my rate for coverage guaranteed to remain the same and for how long?

A level term life insurance policy is temporary coverage for a specific number of years. If you pass away during the term of your policy, the death benefit is paid out to your beneficiary.

If you outlive the duration of your term, your life insurance coverage ends.

The rate you pay for a level term plan will remain the same for the entire length of time you have your coverage.

So, if you have a 5 year term policy, your premium remains the same each year for the 5 year term.

Term life offers guaranteed level rates for a period of 5, 10, 15, 20, 25 or 30 years.

Here's how you can compare level term life insurance rates from several top life insurance carriers.