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graded term life insurance

Immediate coverage policies are something you must qualify for. You won't have to take an exam, but at a minimum, you will have to answer health questions and be approved.

You must be eligible for immediate coverage policies. Although you won't need to take an exam to be approved, you must answer specific health questions.

No insurance company can cover every health problem. They must choose where they will compete for specific health conditions.

While the differences may seem small, they can have a tangible impact on your finances. You may not lose out on much cash value growth over two years, but a more extended introductory period can set you back. And you'll be going without a critical policy feature while paying five to 15 times more than it costs to get similar Coverage under a term life policy.

Still paying much more for your coverage than you would for term life insurance

ABC Insurance Company is an excellent example of how to ensure people with diabetes. They also offer rock-bottom rates. This is how their underwriting works.

is single premium life insurance a good investment?

A whole life policy is quite simple. Here's what you need to know about whole life insurance policies:

So rejoice in knowing that a modified plan is an option no matter how bad your health is.

Unfortunately, a captive agency cannot offer another insurance company to you.

is single premium life insurance a good investment?
what is a modified life insurance policy

what is a modified life insurance policy

You would get the best Policy with the company offering the best rates, coverage, and support for diabetics.

Your best Policy would be with whichever company offers the best rates and Coverage to a diabetic

A quick recap: There are two types of partial coverage plans. One pays a portion of your death benefit for the first two years, and another pays 100% immediately.

human life value approach

Why is that so?

Premiums: Standard whole-life insurance has the same premiums as your entire Policy. Modified whole-life premiums are only available once.

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

straight life insurance
straight life insurance

The good news is that people with serious medical issues can get new coverage through a modified whole-life plan. Most modified life plans do not require any medical/lifestyle underwriting. Even if you have a severe illness, you may still be eligible for new coverage. Modified whole life could be the only option to obtain a new policy, depending on the severity of your health problems.

The lower rates you are charged early in your modified Whole-Life Coverage are not a discount. You'll make up any difference with higher payments once the initial period ends.

Modified lifestyle insurance has premiums that fluctuate over time. Usually, this happens between 5-10 years after the Policy is started.

is modified whole life insurance interest sensitive

Securing higher premiums over the next few years, regardless of whether or not you have the means to pay them

Some companies offer as low as 10% and others as high as 30%. Most companies, however, grant 10% interest for your premiums.

Life insurance is not for everyone.

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is modified whole life insurance interest sensitive

Frequently Asked Questions



CEO, The Annuity Expert. A Modified Endowment Contract, or MEC, is a life insurance policy modified from the traditional whole life insurance policy. A MEC offers tax-deferred growth and allows you to take out loans against the policy's cash value without penalty.


Modified whole life insurance offers lower premiums for a short time (usually two to three years but occasionally up to five or 10), followed by a higher rate for the remainder of the policy.