Level Term Insurance is a Life insurance policy where the amount of cover does not change over the term of the policy. Therefore, it guarantees to pay the chosen amount of cover if the policy holder should die at anytime within the policy term.
The amount of cover would be fixed throughout the term of the policy.
This is a simple type of life Insurance policy and therefore if the policy holder continues to live beyond the fixed term of the policy, then no payment is made on their eventual death - the lump sum is only payable if the policy holder expires before the fixed term of the policy does.
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