what is age graded life?

Answering health questions is necessary if you desire immediate coverage. There are no exceptions.

The bad news: These plans come with two serious drawbacks, the premiums and the waiting period. These plans allow applicants who have serious health problems to apply. The insurance company accepts many risks because it takes on a lot. These premiums are often higher than for non-modified policies. They also have a waiting period of up to 2 years before the death benefit is paid.

These are all marketing terms which mean the same thing. These terms refer to whole life insurance plans with limited underwriting. People with certain health conditions may still be eligible.

First, a modified whole-life contract is almost sure to be available. Life insurance for seniors aged 80 and over is an exception. Modified plans generally are only available to people who are older than 80.

Compare these costs with term life insurance. The same 35-year-old male would pay $30.44 monthly for a $500,000 20-year policy.

We mentioned that some policies do not require you to wait two years for your death benefit to be payable.

Sorry, but a captive agent can't offer you any other insurance company.

This is in contrast to traditional or level-life insurance policies, where premiums are locked and remain the same for a long time.

The prices can't rise over time. The Policy can't be cancelled or reduced; it can't expire.