Life Insurance Types | Buying Life Insurance | Understanding Life Insurance | Glossary
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What kind of life insurance do you need?

Graded Whole Life Insurance

Everyone, especially individuals enjoying the second half of their life, owes it to themselves and their families to have at least one life insurance policy. After we pass away, it's usually our family who's stuck with our remaining debts and medical bills. Then there's funeral expenses, which can easily reach tens of thousands of dollars. Holding a whole life insurance policy gives you the peace of mind to know that your passing won't bring the added stress of difficult financial decisions.

Graded Whole Life Insurance

Do you have a chronic medical condition that makes you "uninsurable"? If you've been turned down for a life insurance policy because of a medical condition, graded whole life insurance might be a viable life insurance option for you. Graded whole life insurance is ideal for those individuals who expect to live for at least two or three more years, but whose medical condition makes them difficult to insure. Generally, policy holders of this type of life insurance plan pay a monthly or annual premium, which then accrues interest. Usually the interest on the premium ranges from about 7 - 10%. If the policy holder dies of natural causes within the first two or three years of holding the policy, the survivors only receive the premium and the accrued interest, not the full face value of the coverage. In the case of accidental death, however, the survivors usually receive the full face value of the coverage. For example, if the policy holder purchases a $15,000 policy and has paid in $1,000 in premiums during the first two years, but then dies unexpectedly of a heart attack, the survivors will receive only about $1,100 in benefits, not the full $15,000. Therefore, if you are concerned that you may not have more than a year or two to live, a graded whole life policy may not be the right choice for you.

Graded Policy Benefits

A graded policy generally provides enough to cover or significantly offset the costs associated with an individual's passing, such as burial/cremation costs and so on. If you don't have enough cash to leave behind but you still want to provide as much as you can, a graded policy is a great way to do that. Prices, interest rates, and the "graded" time period for graded whole life insurance policies vary from company to company, but don't fret. makes it easy to compare these different policies side by side with just a few clicks. If you think that a graded whole life insurance policy might be right for you and your family, use the form at the top of this page to begin comparing graded whole life quotes from trusted national insurers now.