Level term

This is renewable and convertible term life insurance for a specific time that features substantial life insurance protection at a reasonable price. Most people are under the impression that decreasing term life insurance is the best way to protect your family if you have a mortgage. That is not always the case. The best and cheapest way is to obtain level term life insurance for the length of your mortgage through mortgage protection insurance. The main advantage is that level term insurance maintains its face value throughout the lifetime of the policy. For example, if you obtain a mortgage for 30 years, you should get a 30-year level term life insurance policy. By doing so, your family will receive the entire face amount of the policy regardless of the outstanding mortgage balance.



  • Initial guaranteed level premium durations of 10, 15 and 20 years are available
  • 30-year terms are also available with guaranteed level premiums for 20 years
  • The death benefit remains the same throughout the life of the policy
  • You can designate proceeds to pay your mortgage or provide additional funds for income replacement, debt repayment or other personal family needs


  • If you pay off your mortgage early, you can keep the coverage until the term of the policy expires
  • Once in force, your policy will not be canceled due to changes in health or your job as long as premiums are paid on time
  • Coverage provided under the policy is guaranteed to renew to age 95 with annual premium increases
  • Your policy may be converted to a whole life policy, while in force and before you attain age 70, without providing evidence of insurability

Optional coverage available on term life products

  • Accidental death benefit
    • Pays an extra benefit if death is from accidental injury
  • Waiver of premium
    • Pays your policy premiums for you if you become disabled
  • Child insurance rider
    • Economical protection for your children

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This is only a summary of policies and riders available, and is not a contract. The policy you decide to purchase forms the contract, and will provide complete details on your benefits. In addition, all policies have a "free look period" during which you can cancel the coverage and your premiums will be refunded. For complete details of available coverages, contact one of our representatives.


Insurance products issued by Colonial Life Insurance Company of Texas are not FDIC/NCUA insured. The insurance products are not issued, guaranteed or underwritten by Colonial, Colonial National Mortgage or the FDIC or NCUA. The insurance products may involve investment risk, if appropriate, including potential loss of principal.