Life insarance: Advantages of low cost life insurance

Many companies now offer low cost term life insurance with premiums that remain level for the duration of the policy, usually a period of 5, 10, 15, 20, 25 or even 30 years. This type of policy is called level term life insurance. These policies are extremely popular because they are generally inexpensive and can provide relatively long coverage. Most level term life insurance policies will provide you with a guarantee not to raise your premiums during the life of your policy. If you buy a non-level term life insurance policy, the provider can raise your premiums. It is important to understand the terms of any life insurance policy you are considering.