level-premium insurance

level-premium insurance definition - business

level-premium insurance

A life insurance policy with fixed premium payments during the duration of the contract. Whole life policies that build cash values have level premiums. Term insurance typically has premiums that increase over time, although some policies guarantee level premiums for limited periods.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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