In a term life insurance policy, premiums may be increased at the renewal of the...

In aterm life insurance policy, premiums are typicallylevelduring the policy term (e.g., 10, 20 years), meaning they remain constant. At renewal, premiums may increase based on the insured’s attained age, but during the initial term, they are fixed, as outlined in Oklahoma’s life insurance regulations (Title 36 O.S. § 4002).

Option A: Incorrect. Convertible refers to a policy’s ability to convert to permanent insurance, not premium structure.

Option B: Correct. Premiums are level during the term prior to renewal.

Option C: Incorrect. Variable premiums apply to certain flexible policies like universal life, not term.

Option D: Incorrect. Adjustable premiums are not a standard term for level term policies.