Modified premium whole life insurance

Modified premium whole life insurance is distinguished from traditional whole life insurance by the fact that its premiums are not constant for the duration of the policy.  With modified premium whole life insurance, premiums begin low and then after a number of pay periods, they jump suddenly to a higher level.  Premiums stay constant at the higher amount for the remainder of the policy’s lifetime.

The strategy behind such a premium plan is that it enables a buyer to have a larger amount of life insurance coverage than his finances would otherwise permit during the early years of the policy.  In later years, when his earning power is increased, he can make up the difference by paying the higher premiums which the policy later demands.

As with traditional whole life insurance, the death benefit for modified premium life insurance is fixed and guaranteed.

Modified premium whole life insurance is similar to graded premium whole life insurance, differing only in the abruptness of the change between the initial premium level and ultimate premium level.

To buy modified premium whole life insurance or to counsel for free with an knowledgeable life insurance advisor, call 1-800-823-4852 today.