Another name for a straight term policy is

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A straight term policy is also known as a multiyear level term policy because the premium and death benefit remain the same throughout the term of the policy, which is usually 10, 15, or 20 years. Renewable term policies can be renewed at the end of the term, decreasing term policies have a decreasing death benefit over time, limited payment policies have a limited premium payment period, and conversion term policies can be converted to a permanent life insurance policy.

Another Name for a Straight Term Policy Is