The rate you pay per $1,000 of life insurance coverage is guaranteed to remain level throughout your life for a permanent life insurance policy, unless otherwise stated in the policy contract.

With term life insurance your rate may increase every five years, or it may increase annually, depending on the type of term life plan.

However, some term life policies provide guaranteed level rates for a term of 10, 15, 20 or 30 years, which is most common. 

So, if you bought a 10 ...