Graded Premium Whole Life Policy

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A type of whole life policy designed for people who want more life coverage than they can currently afford. They pay a lower premium rate that increases gradually over the. A graded whole life insurance policy represents an insurance policy that offers coverage for the insured’s entire lifetime and policy annual increases in premiums for a constant amount of insurance during a defined period. The whole life insurance policy is permanent and lasts throughout the lifetime.

If you should pass on during this time, your heirs will still get some payout. And like many whole life policies, a graded policy will pay you interest, although often only in the first few years. What is graded premium whole life? A type of whole life policy designed for people who want more life coverage than they can currently afford. They pay a lower premium rate that increases gradually over the first three to five years and then remains constant over the. When the graded policy is in effect, your beneficiaries will only receive the premium payments you made on the policy plus a small portion — typically eight to 10% — of the death benefit. How much is graded benefit whole life insurance? Rates for a graded benefit whole life insurance policy vary based on gender, age, and death benefit amount. Graded benefit whole life insurance definition.