Level premium term policies have become much more popular than annual renewable term policies in recent years.

Question

Quizplus · Accepted Answer

Level premium term policies are more popular than annual renewable term policies because they offer a fixed premium for a set period of time, usually 10, 20, or 30 years, which provides more stability and predictability in terms of cost for the policyholder. Annual renewable term policies, on the other hand, have premiums that increase every year and can become prohibitively expensive over time.

Level Premium Term Policies Have Become Much More Popular Than