Level Term Life Insurance Protection

What is Level Term Life?

Level term life insurance is simply a life insurance policy that guarantees a level premium for a given period of years.

Level term life insurance has become much more common than the once popular annual renewable term life. Annual renewable term plans typically begin with a smaller premium but quickly increase each year as you get older. These plans have have almost become obsolete in the life insurance industry.

What makes Level Term Life so attractive?

Probably the most attractive feature of level term life insurance is the ability for a client to know exactly what their out of pocket costs will be over a period of time. This makes budget planning for these future costs much easier. Level term life insurance also allows an individual the ability to tailor their plan to their exact needs.

What Level Term periods are available?

Nowadays, you can pretty much design a level term plan to fit any planning needs. Whether it be locking in guaranteed level rates while the kids are growing up, protection while you pay down a home mortgage or perhaps coverage until the primary breadwinner retires.

The most common level term periods in the marketplace are 10 year, 15 year, 20 year and 30 year.

Can you lock in different level term periods?

Yes, we call this laddering. This is simply accomplished by purchasing multiple policies with varying duration’s. Each policy is matched to a specific need. This way, you can have the right amount of coverage at the right time-in a very cost effective manner.

Here’s an example of how laddering different level term life policies could work: Suppose Bill is age 45, in excellent health, and has a wife and two kids, ages 9 and 11. He has 10 years remaining on a mortgage, and wants to ensure that if he dies prematurely, his home would be paid off, his kids could attend college and his family would be financially secure.

Based on this example, we determine his life needs are the following:

AGES 45-55 $2 million life insurance covers the balance of his mortgage, future college costs, lost income and final expenses.

AGES  55-60 $1 million covers college costs, lost income and final expenses.

AGES 60-65 $500,000 covers lost income and final expenses.

Bill could purchase one $2 million 20 year level term policy that would take care of his needs. Over a 20 year period the total premium outlay would be approximately $44,900.

But, by simply laddering and purchasing 3 level term life policies based on the time frame the coverage is actually needed his total premium outlay would be only $25,000 over a 20 year period. This is almost a $20,000 premium savings over the course of the coverage period.

So, using are example, Bill could purchase a $1 million 10 year level term life policy, a $500,000 15 year level term life policy and a $500,000 20 year level term life policy.

It is very important to work with an agent that has the experience to know how to design your coverage properly.

What happens to the policy when the initial level period ends?

When most level term life policies come to the end of the initial level premium period the insured will get notified that their policy will adjust to an annually increasing rate. This rate can be dramatically higher than the initial level premium.

In most cases, the premiums after the initial level period has expired will be much too high to continue. It is very important that you work with a knowledgeable and experienced  life insurance agent when purchasing term life insurance.

You must be sure to lock in guaranteed level rates for as long as you think you want the protection.

How can I compare different level term life plans?

Fortunately, you have landed in the right spot. As an independent life agent representing all of the top life insurance carriers in the marketplace you can find the best rates for level term life insurance here.

If you have any questions on how to ladder your level term life coverage or simply want to discuss your term life insurance needs, please contact us at 1-888-393-9003 or mike@specialriskterm.com 

For a FREE quote

Call, text, email or fill out our instant quote form:

Call: 678-207-8160
Text: 678-207-8160
Email: mike@specialriskterm.com
Instant quote form: Click here

How can I help?

Mike Raines

I am an independent life insurance agent with over 30 years’ experience. I am an expert in finding coverage for those with past or current medical history such as heart disease, diabetes, post cancer, etc. I also specialize in those that participate in scuba diving, mountain climbing, private pilots, etc. I work with the best life insurance companies in the nation, such as Prudential, AIG, Protective Life, Transamerica to name a few. Each carrier has different opinions on rates and underwriting, and it is my job to match you with the best company. To do that, I need to ask you a few questions about your health and lifestyle to qualify you.

For a FREE quote, call, text or email:

Call: 678-207-8160

Text: 678-207-8160

Email: mike@specialriskterm.com

Mailing Address:
3482 Keith Bridge Road Suite #125
Cumming, GA 30041


Two Thumbs Up for Mike at Special Risk Term

- Yaniv from Troy, MO.

Mike and his team did an extra ordinary job of handling my life insurance situation.  I was unable to secure life insurance because I had cancer 17 years ago however Mike and his team navigated through the challenges to get me a 15 year policy at great monthly rates. Thank you Mike for all your work in in this challenging situation.

- Nathan S. from St. Paul, MN.

Mike did an outstanding job getting me my coverage. He went above and beyond answering all my questions. He always returned my calls immediately even on the weekends!!! I highly recommend him.

- Aileen from Woodstock, GA.

I contacted Mike for advice with life insurance. I had recently left a large firm (where I had life insurance coverage as part of compensation package) to start my own company.  Therefore I needed to self fund my life insurance.  Because of some past health issues I figured I may need to do extra tests to validate my current excellent health status and insurability.  Mike was great to work with, knowledgeable about how underwriters view things, how they will want lots of data from my doctors, and he explained the normal full battery of new tests and data as well as additional or special tests they might want based on my history.  He helped me through the valley to the other side of the life insured promised land for $500K term policy with a duration that meshes well with my retirement date/options and coverage for my family if needed. I highly recommend Mike with Special Risk Term.  He can help you too, so call or email today.

- Richard M. from Ann Arbor, MI

It’s not easy to find life insurance with a chronic condition such as crohn’s disease which is why I greatly appreciated having Mike on my team. Mike is responsive, patient, professional and indefatigable- all things you need when you’re looking for a competitive policy. Knowing my family will be taken care is not only a relief but a huge confidence boost and I’m thankful Mike works in the special risk insurance arena. I would absolutely work with him again. Thank you Mike!

- Bobby from Washington D.C.

Best rates and best service I have ever received.

- Robert from Kennesaw, GA.

Mike and Special Risk Term are absolutely top shelf! I was worried that I would not be able to get term life insurance to protect my family, or that the costs would be exceedingly high.

Mike knew the industry inside and out and knew which companies would provide the best options. He coordinated with the underwriters to get the job done and get me an affordable plan, and kept me updated throughout the entire process. Not to mention he did it all electronically in the age of COVID without ever having to meet in person. Highly recommend. Excellent service and expertise!

- Chris M. from Laguna Niguel, CA.

Mike and his team made the entire process from start to finish very seamless and also overcame the task with us being multiple states apart with ease. With the easy process and very competitive priced insurance for high risk athletes, you have no need to look anywhere else for coverage. Thanks to Mike and his team for all they did and I highly recommend them for your Special Risk Life Insurance needs.

- Tyler C. from Danville, VT.

I could not be happier working with Mike Raines to get life insurance coverage for myself after having been declined for health reasons by my employer. My wife and I just had a son and it had become more imperative than ever that my family be protected if I were to pass away. The health screening appointment was conducted at my home around my schedule, which was very convenient. It was clear to me that Mike went above and beyond to make sure the underwriter fully understood my situation, going to bat for me so that I would not be declined again. I am a very happy customer.

- Daniel S. from Seaside, CA.

Mike did an awesome job in finding affordable coverage for myself and my husband. Highly recommend his services.

- Shannon from Atlanta, GA.
About SpecialRiskTerm.com
About SpecialRiskTerm.com

We work with individuals across the nation to secure the best life insurance rates.

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