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Life Insurance Glossary: Level Term Insurance

Level term insurance is a type of life insurance policy where the amount paid out in the event of death remains the same throughout the term of a policy. This is a more expensive forms of term insurance than decreasing term assurance, where the sum paid out decreases during the life of the mortgage terms. However level term insurance is less expensive than decreasing term insurance, where the potential amount paid out rises each year.

See also: Financial Services, Life Assurance