Life Insurance Information Dictionary

Graded Premium Life Insurance

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The Dictionary of Insurance Terms and Definitions

Graded premium life insurance is a type of whole life insurance whose premiums begin low and become higher later on.

In graded premium life insurance, premiums climb gradually, year by year until they reach their ultimate level.  Then they continue constant until the policy matures (i.e. until the death benefit is paid).

This makes whole life insurance more affordable during the early years of the policy, but if it continues long enough, aggregate premiums will exceed those for a comparable level premium life insurance policy.

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