What is level term life insurance in under 2 minutes


what is level term life insurance? with level term life insurance the
amount that you’re covered for stays the same throughout the term of your policy as with all term insurance it will only pay out if you die before
the policy expires you can choose to take out level cover for just you or a joint policy that will cover both you and your partner what is it for level term is the most common type of life insurance and is designed to provide a fixed payout to your family should the worst happened to you you set the term of the policy the amount to cover that is paid out and also decide who the money goes to this is known as the beneficiary how does it work you pay monthly premium to the insurer this monthly premium stays the same throughout the term of the policy in return the insurer agrees to pay out a fixed amount of money to your family or whoever you choose if you were to die
within a set period of time the amount of money is referred to as the sum assured and the period of time is referred to as the term both the term and the sum assured can be set by you but also impact the price you pay each month

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