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Term Life Insurance Policies

If you have opted for term life insurance, you have a vast number of options available to your for coverage. As term life insurance offers coverage for up to 30 years, there is more than one type you can purchase to cover your needs: level term insurance and decreasing term insurance.

Level Term Life Insurance

This policy will not allow for the death benefit to change during the length of your policy. This is the more common policy, and makes up more than 90% of purchased term policies.

Decreasing Term Life Insurance

This type of policy can decrease the death benefit as the insurance reaches its end, normally every year.


A policy that is renewable will stay in effect after the initial term period expires. It usually comes with a higher premium and you may not be able to get the same policy. However, many types of term life insurance policies are convertible, which means that the insured can change the policy to a permanent life insurance policy at any time. So, term life insurance is better than no life insurance.