Definitions for "Level Premium"
Rating method in which the premium level remains the same throughout the life of the policy.
A premium which remains unchanged throughout the life or term of the policy. With a whole life policy, the premium remains level for the insured's life. With level term insurance, the premium remains level for the life of the term; it may increase at each renewal, or the start of a new term.
premium that remains unchanged throughout the life of a policy.