What type of coverage did Laura add to her life insurance policy?

The choice of level term coverage indicates that Laura added a type of term life insurance that provides a death benefit for a specified period, with a consistent premium throughout that period. This means that the coverage amount remains the same, also known as "level," for the duration of the term and does not decrease as time passes.

Level term insurance is often chosen by individuals seeking affordable coverage for a specific time frame, such as when raising children or paying off a mortgage. During the contract period, the policyholder typically pays lower premiums than they would for permanent types of coverage.

Understanding the distinctions among different life insurance products is essential. Whole life offers lifelong coverage with a cash value component, which is different from the temporary nature of term life. Universal life provides flexibility in premium payments and death benefits but is also more complex than level term. Thus, the choice to opt for level term signifies a clear preference for straightforward, affordable protection for a designated timeframe without the intricacies associated with permanent coverage.