Guaranteed Term Life Insurance Premiums

Q: What are guaranteed premium rates in a term life insurance policy? A: With regard to premium rates, there are basically two types of term life insurance policies; guaranteed and non-guaranteed. Pretty creative, eh? The most common is guaranteed, and this is the type you want to look for. In fact, you won't find as many life insurance companies offering non-guaranteed term life policies these days. The guarantee means the premium rates will remain level for the entire term period (e.g. 10 years, 20 years, etc.). With non-guaranteed policies, the premium rates may increase after a specified number of years, usually the first ten. For example, if you had a non-guaranteed, 20-year term life policy, the premium rates may only remain level for the first ten