Which term insurance option features a constant death benefit with potentially increasing annual premiums?

Level Term Insurance is characterized by a constant death benefit throughout the life of the policy, making it a key choice for individuals seeking a stable insurance coverage amount for a specified term. With this type of policy, the premiums may initially be lower but can potentially increase as the policyholder ages and as insurance costs rise over time, typically at each renewal period or after a specific number of years. This structure provides policyholders the assurance that their beneficiaries would receive the same payout regardless of when the insured passes away within the term of the policy, while also highlighting that the cost of maintaining this stable coverage can vary.

In contrast, Decreasing Term Insurance features a death benefit that declines over the life of the policy, making it unsuitable for anyone looking for a constant benefit. Whole Term Insurance is not a standard label within the life insurance terminology, while Variable Term Insurance usually involves a death benefit that can fluctuate based on underlying investments, quite different from the fixed nature of Level Term Insurance. Therefore, Level Term Insurance is the option that truly fits the criteria of having a constant death benefit, despite any potential increases in premium costs.