The
term of a life insurance policy is usually the number of years that a Term Life
Insurance policy will stay the same price.
Term life insurance plans that are "level term" have the same premium each year for the duration of the term; such as, 10, 15 or 20 years.
I say "usually" because
some life insurance policies will increase the price every few years or every 5 years, or at a certain point in
the policy.
Other life insurance plans will say the policy "usually" will stay the same
price for the entire term, but it is not guaranteed to do so.
To make sure you have a Term life policy that will stay the same price for the entire term, check the conditions section of the life insurance policy to make sure your premium is "guaranteed level".
Learn more about level term life insurance coverage and how it works.
