Whole life insurance coverage is a type of life insurance policy that provides you with guaranteed lifetime protection and builds cash value inside the policy over time from which you may take a loan.
Regular whole life insurance policies provide you with full coverage immediately,m from the first day you are insured.
However, some whole life insurance policies; such as, guaranteed issue whole life insurance, provides limited death benefits the first 2 or 30 years you are insured under the policy.
Usually, with graded whole life insurance you have full coverage after 2 years, but limited benefits the first two years you are insured, which means, if you pass away during the first two years your beneficiary would receive an amount less than the full death benefit from your policy.
Learn more about
graded whole life insurance policies, how they work, and how you can get guaranteed issue life insurance protection today.
