Which type of life insurance is characterized by a level face amount and level premiums paid throughout the insured's life?

Continuous Premium Whole Life Insurance is characterized by having a level face amount, which means that the death benefit remains constant throughout the life of the policyholder. This type of policy also requires level premiums, which are consistent and do not change over time as long as the policy remains in force and premiums are paid. This creates predictability for policyholders in terms of both the cost of insurance and the benefits provided to beneficiaries.

The level face amount ensures that beneficiaries are guaranteed a specific death benefit no matter when the insured passes away, provided the policy is active. Additionally, the lifelong component of the Continuous Premium Whole Life Insurance means that the policy builds cash value over time, which can be borrowed against if necessary. This combination of features makes Continuous Premium Whole Life Insurance a popular choice for individuals seeking long-term coverage and stability in their financial planning.