Level Term Life Insurance Policy

What is Level Term Life Insurance?

Level Term Life Insurance is a type of life cover policy where you secure a fixed amount of cover for a set period. As the sum assured remains level throughout the policy term, the payout amount will be the same no matter when the claim is made.


Why choose Level Term Insurance?

As the cover amount remains the same throughout the term, you’ll have peace of mind knowing exactly how much your loved ones would receive if you died. Typically, this type of life insurance is used for financially protecting your loved ones from fixed costs such as your family lifestyle, debts and loans, an interest only mortgage, or funeral costs.

Which type of Life Insurance do I need?

It’s a good idea to consider both Level Term and Decreasing Term cover when getting your Life Insurance. Compare the types of cover available to you, to decide which one best suits your needs.

Take a look at our one minute video which explains the difference between Level and Decreasing Term policies:

Uses of Level term

As the policy value remains the same throughout your term, this is typically used for financially protecting your loved ones from fixed costs such as: your family lifestyle, debts and loans, an interest only mortgage, or funeral costs.

Uses of Decreasing term

Typically offers cheaper monthly payments as the policy value decreases over time. This is often used for financially protecting your loved ones from debts which get lower over time, such as a repayment mortgage.

The key differences between these two types of policy is the price and cover amount. When comparing cover amounts, mortgage term offers the greater cover amount initially, however, as time passes the cover for level term stays the same and provides significantly more cover in later years.

Cover amount over time

Decreasing Term Life Insurance

Benefits of Beagle Street*

*Terms and Conditions apply to some benefits.

Trust Tool
FREE tool to create a legal Trust, where you can specify who receives the payout from your policy.

Terminal Illness Cover
Included as standard with every policy. 

Accidental Death Benefit
Automatic cover if you have to wait for a decision on your policy.

Online Account
Keep all your policy documents safe in one place. 

Official Records Searches
We search records to find bereaved customers’ families who could receive a payout. 

“Excellent service – So easy to check what level of cover is required, the policy was delivered
very speedily, no complaints with the service.”
14th October 2018

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Jargon Buster

Making it easy to understand Life Insurance ‘jargon’

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Over 80% of the policies we sell are Level Term?


How does Level Term cover differ from Whole of Life Insurance?

Level Term Life Insurance is taken out for a fixed time period, decided by you, and pays out only if you die within the policy term. With Whole of Life cover, you pay premiums for life and are guaranteed a payout when you die. It can be more expensive than Level Term insurance. Beagle Street only offers Level or Decreasing policies for fixed terms.

Will my monthly premiums change over time?

No. Payments are agreed and fixed at the beginning of your policy and are guaranteed to remain the same for the duration of your policy.

How much cover can I have?

With Beagle Street, you can choose from a minimum of £40,000 and up to £750,000 of cover, depending on your age. You can also choose to add Critical Illness Cover, the maximum amount of which is calculated on how much life insurance cover you choose.

Do I need to take a medical exam?

We’ll ask you some questions about your health during the application, but we don’t ask you to provide any medical records or to have a medical examination. Read more about how we take into account medical conditions.

What am I covered for?

Life insurance with Beagle Street will cover you if you die, whether through illness or an accident, within the policy term. All Beagle Street Life Insurance policies cover you if you die during the policy term, or if you are diagnosed with a terminal illness before the last 12 months of your policy. If you add Critical Illness cover, you could receive a payout if you are diagnosed with a critical illness listed in our policy terms. If you’re an existing customer and want to check your cover amount and remaining term, simply sign into your account.

What am I not covered for?

You are not covered for suicide in the first year. If you’ve chosen Critical Illness cover with your life insurance you can see which illnesses and conditions are covered by the policy.

Still have questions?

Calculate the amount
of cover you need

If you’re unsure how much cover you want with your policy, our Life Insurance calculator can help.

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Why choose Beagle Street?

There are lots of reasons to choose Beagle Street to keep your loved ones secure. We’ve listed some of the benefits of buying Life Insurance with us.

Find Out More


We’ve put together a range of handy guides to help you figure out what you want from your Life Insurance policy – everything from joint policies to Critical Illness Cover. 

Find Out More

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