Level-Premium Insurance
Categories: Insurance
See: Level Payment Mortgage. Same idea.
You have a given whole life insurance product. It pays a million bucks if you die. In theory, as you get older, it should cost more because death is of higher risk. Yet in this form of insurance payment, it's level, flat, the same, month after month, no matter how old you get.
Level.
Some people like their tables built this way. And their insurance policies to match.