what is the difference between whole life insurance and variable life insurance?

The good news is: People with serious health problems can still get new coverage through a modified whole-life plan. Modified life plans often have minimal or no medical/lifestyle coverage. You can still obtain new coverage even if you suffer from serious illnesses. Modified whole life may be the best way to get new insurance, depending on your medical condition.

This section will help you understand the details of these Plans, their actual prices, and whether this Policy is suitable for you.

It is possible to have a modified plan, no matter your health.

Coach B. data indicates that a 35-year-old male without complex health issues would be able to pay $517 per month for a $500,000 Whole Life Insurance Policy. You may pay less for the first few years, but for many decades, you'll be paying more.

Some companies go as low as 8% and others as high as 30%, but most companies grant 10% interest on your premiums.

These terms are simply marketing terms. They refer to a whole life insurance plan with limited underwriting so that people with medical conditions can still get coverage.

Losing out on cash value savings, one of whole life's main benefits

No insurance company can cater to every single health issue. They have to choose where they compete for specific health conditions.

Modified life policies are usually more expensive than traditional level life insurance plans after the period with lower premiums ends.