The folks at Wholesale Insurance just put up an article on term life insurance. If you’re looking for basic information about this type of life insurance, then I highly suggest that you check out the article. They normally do a pretty good job with putting up good information. One interesting bit of information they included is the fact that term life insurance is also known as level premium life insurance. In fact, I believe it was called level premium life insurance before it was called term life insurance.
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March 31st, 2008 at 3:23 pm
It seems everything has a history these days. I just learned today that recycling dates back to 400 BC, and yesterday that rainbows arc at 42 degrees. Today I learned about the the history of life insurance!
In regards to the article, however, Level Premium Life Insurance can today mean something slightly different than a general Term Life Insurance agreement; if you sign up for a Level Premium Life Insurance policy, it is necessary to ensure that the premium level is, in fact, guaranteed, so that the company can’t actually raise it to a new premium level which will have to be paid for the duration of the policy’s life.