L&HTexaseasy
Which type of term life insurance keeps the death benefit constant throughout the policy period while premiums also remain level?
ADecreasing term
BAnnually renewable term
CReturn of premium term
Level term
Why this is the answer
A level term policy fixes the death benefit and premium for the full policy period—commonly 10, 20, or 30 years. Decreasing term reduces the death benefit over time (used in mortgage protection), while annually renewable term reprices premiums each year as the insured ages. Return of premium term refunds all premiums if the insured survives the term, but charges a higher premium for that feature. Only level term holds both the death benefit and premium steady throughout. Per the TX content outline §I.C, level term is listed as a distinct sub-type under the Term life category.
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