How does a level term life insurance work?

jhon paul

Member
Level term cover is a type of life insurance policy in which the policy term can be decided by the policy holder and the premiums and policy will be same through out the policy If there is no claim made with in the policy term the cover will lapse and there will not be any payout when the policy expires.if the insured passes away during the policy term, a claim will be made, and a lump sum amount cover will be paid to the beneficiaries.
 

Mandy96

Valued Contributor
What if this case occurs and there happens a claim made of which everything is in order except for the claim that was done. I mean I know what it’s at stake but at the same time I would like to know if there will be a benefit of doubt given to the client especially if it’s an old one
 

Nite

Valued Contributor
This is a type of insurance plan that offers steady premium options throughout the term of the policy, along with death benefits. Level term life insurance is one of the commonly availed plans, and is quite similar to the term life insurance. However, level term life insurance is usually known to be as a level benefit, because it guarantees fixed death benefits in the policy.
 
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