What type of insurance provides a level death benefit for permanent needs?

Level term insurance is designed to offer a constant death benefit throughout the life of the policy, making it a suitable choice for individuals seeking a predictably stable level of coverage to meet permanent needs, such as covering outstanding debts or providing for dependents. This type of insurance ensures that the beneficiaries receive the same amount regardless of when the insured passes away, as long as the policy is in force during the term period.

In contrast, decreasing term insurance offers a death benefit that diminishes over time, which does not align with the goal of covering permanent needs, as it is typically used for specific, temporary financial obligations like a mortgage. Variable life insurance, while providing a death benefit, ties the policy's cash value to investment performance, potentially leading to fluctuations that do not guarantee a level benefit. Universal life insurance allows for some flexibility in premium payments and death benefits, but it does not assure a fixed death benefit over the life of the policy in the same way level term insurance does. Thus, level term insurance is specifically designed to meet the requirement of maintaining a consistent death benefit for the insured's permanent needs.