Net level premium

{
  "id": "MLC-T-INS-002296",
  "term": "Net level premium",
  "field": "Insurance and risk management",
  "definition": "The constant annual premium for a life insurance policy that, with interest at an assumed rate, exactly funds the expected death benefits according to a mortality table, with nothing added for expenses, profit or contingencies. At issue, the present value of the net premiums equals the present value of the benefits. Insurers add a loading to this net premium to arrive at the gross premium charged to the policyholder.",
  "url": "https://mlchart.com/terminology/insurance/net-level-premium/"
}