modified premium life insurance

It is important to remember that any policy purchased from a company without health questions will have a 2 to a 3-year waiting period.

You might also see modified whole-life plans referred to by some companies as "final cost life insurance", "funeral insurance", "burial insurance", or "funeral insurance".

These differences, while small in size, can significantly impact your financial situation. Even though you might not lose cash value growth for two years, an extended introductory period may cause you to be less successful. While you won't lose any critical policy features, you will pay five to 15 times more to get the same coverage under a life insurance policy.

We will explain the plans, show you prices and help you decide if this Policy suits your needs.

Modified whole life insurance allows for lower premiums (usually for two to three years, but there are times when it can be up to five to 10 years). After that, the rate will increase for the rest of the Policy. The initial savings might be appealing, but it is not the best type of life insurance policy due to the high premiums and complex policy options.

Lastly, you may see companies refer to modified life plans as "final expenses life insurance", "funeral coverage", or "burial Insurance".

The truth is, those are all marketing terms that mean the same thing. They're referring to a whole life insurance plan with limited underwriting, so people with health conditions can still qualify.

Meanwhile, XYZ insurance company isn't very fond of people with diabetes. They might deny them or charge them much higher prices.

This is undoubtedly true for modified whole life insurance.