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Level Term Life Insurance

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Level term life insurance is one of the simplest types of cover. It can provide your family with guaranteed financial protection if you pass away within the contract term, and works on a fixed basis. For this reason, level term insurance cover is one of the most popular policies when it comes to life insurance. It is important to understand your policy and how much cover you need, since level term life insurance policies do not change their pay-out amount over time. 

At Caspian Insurance, our team have the extensive industry knowledge to provide you with the best policy options. What is more, we can help create a tailored policy so that you can be confident your family will be taken care of.  When it comes to choosing the policy, we can compare the best insurers in line with your best interests.

What is level term life insurance?

Level term life insurance will offer financial support for a fixed period of time, which you can decide on, along with the amount that will be paid out. They are very easy policies to understand; if you should pass away within the term, your family will receive the pay-out that you decided on when you took out your cover. 

Insurance cover of this kind usually has lower premiums, because if you were to pass away after the contract ends, there will not be a pay-out. Level term insurance also means that it does not matter at what point during the contract you pass away; the pay-out will still be the same.

Why choose level term life insurance?

Choosing level term life insurance can give you peace of mind that your family will be financially protected, during a fixed term. Level term life insurance cover is able to cover the family’s living expenses or replace lost income. 

If the policy pays out, level term life insurance can help with household bills or even paying for the funeral costs. It may also help to pay for current or future school fees for your children, as well as extra money to help your loved ones in everyday life.

Should I get level term or decreasing life insurance?

With a decreasing life insurance policy, the cover will reduce over the course of the term. It is a popular choice if you have recently started a family; your children may need a bigger pay-out when they are younger, but as they get older and more self-sufficient, the amount they need may reduce. 

Decreasing term life insurance is usually bought to help clear a debt. However, it is not suitable for those who have an interest-only mortgage. Instead, this type of life insurance cover can be used for a repayment mortgage, making sure it is paid off in the event you were to pass away during the policy term.

If you are trying to decide between the two types, it is very much dependent on your circumstances. At Caspian Insurance, our UK advisors are on hand to answer any questions you might have about choosing the right life insurance cover.

What is the difference between level term life insurance and mortgage life insurance?

Mortgage life insurance is a type of decreasing life insurance. This means a mortgage life insurance policy will reduce over time; as you repay your mortgage, the amount of cover will reduce. 

Mortgage life insurance cover can help your partner with a repayment mortgage if you were to pass away, especially if your partner would struggle to pay the mortgage without your income. However, level term life insurance would be a better choice if you have an interest-only mortgage.  

Level term life insurance can offer financial provisions for your family’s future, while mortgage life insurance will only clear your outstanding mortgage debt. It is important to consider your needs and circumstances when making a decision between these two types of cover. 

What are the benefits of level term life insurance?

A level term life insurance policy is in your hands. You can decide on the length of the cover, who gets the money and how much they get. You are able to budget accordingly and know what your monthly payments are, ensuring that you can afford your policy as well as other bills. 

When taking out level term life insurance cover, the premiums are fixed and will never change. This can give you peace of mind that your family will receive the same payout whether you pass away at the beginning of your contract term or towards the end. 

Level term life insurance can be used to cover an interest-only mortgage. This is because the money borrowed does not increase over time.

What is the cost of level term life insurance?

Generally, the younger you are when you buy level term life insurance cover, the cheaper your premium will be. Research has found that the monthly cost of life insurance rises when you take it out later in life. This is where over-50s life insurance cover can help.

The cost of level term life insurance will often depend on the cover you want to take out. Consider your income, debts and expenses to get an idea of how much your family would need if you passed away; this will determine your monthly payments. 

You should also reassess your circumstances throughout your cover, just in case anything has changed. It is important to make sure you do not under-insure yourself or overpay. 


Please note that the descriptions above do not constitute as financial advice and may change dependent on individual circumstances and budgetary requirements.

For quick and easy quotes, please get in touch on 0161 241 6146 and one of our friendly and knowledgeable advisors will be able to help.

Why Choose Caspian Insurance?


Save Time & Money

With a helping hand along the way, we search the market for you to secure the right policy at affordable prices.



Our extensive industry knowledge means we can provide you with the best policy options for your life protection.


UK Based Advisors

No call centres, no jargon. Just a team of experienced advisors dedicated to providing a customer centric approach.


Tailored Policy

With a custom-made policy, you will be confident in the knowledge that your loved ones will be taken care of in the worst-case scenario.


Free Trust Service

Receive specialist support and guidance via our free trust service for a clear understanding of how different policies work.


Exclusive Broker Benefits

We do the hard work for you to ease the underwriting process and compare a wide range of insurers in line with your best interests.

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