Level Term Insurance (Health Care) Law and Legal Definition

Level term insurance is a type of term insurance that provides a face value or death benefit that remains the same from the effective date until the expiration date. In level term insurance the fixed price or fixed death benefit is offered for a predetermined time period such as 5, 10, 15, 20, 25, or 30 years. The sum insured stays the same during this period but the premiums will gradually rise over time.