What is modified premium term insurance and how does it work?

Modified premium term life insurance is temporary life insurance protection that comes with premiums that change over time, on a regular basis.

Term life may provide coverage lasting for a period of up to thirty years, with options of 10, 15, 20, 25 or 30 year terms.

Modified term policies have premiums that change on a regular interval, usually every 5 or 10 years.

The change in your insurance premiums may increase or decrease each in...
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