Florida Health Insurance Definitions

Florida Health Insurance Terms:
"Level Premium"

Define: "Level Premium":

Simply put, this is a premium that remains the same throughout the period specified in the insurance policy.

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This policy is a type of term life insurance, which provides coverage only for a specified duration and has only a death benefit, no savings element. Therefore, when considering level-premium insurance, you should carefully consider the length of coverage best suited to your needs. For example, if the primary purpose of the death benefit is to provide income to support very young children and/or fund college expenses, a 20-year level premium might be appropriate. However, if these children are already in their early teens, you may need only a 10-year level premium. The longer the policies, the more expensive they are.

Further details - Level Premium: Free Advice INVESTORS

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