Can you tell me what is a graded benefit life insurance policy?

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Q) I am a senior can you tell me what is a graded benefit life insurance policy?
A) In most graded benefit policies the Death Benefit is limited to 30% of the face amount in the first year. 70% in the second year and 100% in the third year. 
Depending on your medical conditions, you may not qualify for a standard life insurance policy. The life insurance company may rate you at a higher risk due to their underwriting requirements. Therefor the graded benefit policy will cost a bit more that a standard life insurance policy.
Graded Benefit Life Insurance Quote Examples

Female,
Modified Benefit
Coverage
Amount
Monthly
Premium
Age 50 $5,000 $14.53 p/m
Age 55 $5,000 $18.38 p/m
Age 60 $5,000 $23.70 p/m

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A graded benefit life insurance policy works differently only if you were to pass away during an early period of your policy.

  • If you were to pass away during the first year of your policy, your beneficiary will be paid 30% of the face value of the policy (Example: If the face value is $10,000 you beneficiary will get $3,000).
  • If you pass away during the second year of the policy, your beneficiary will get 70% of the face value (Example: If the face value is $10,000 you beneficiary will get $7,000).
  • Lastly, if you were to pass away any time after the third year anniversary of your graded benefit life insurance policy, your beneficiary will get the full 100% of the face value (Example: If the face value is $10,000 you beneficiary will get $10,000).

At SeniorCareLife.com we will try to get you qualified for the lowest cost and best policy for your condition.

Benefits of having a Graded Benefit Whole Life Insurance Policy:
    • First Year Death Benefit limited to 30% of face value
    • Second Year Death Benefit limited to 70% of face value
    • Third Year Death Benefit 100% of cash value
    • Policy builds Cash Value
    • Your monthly premium (payments) will never increase
    • You can never outlive your policy
    • Policy pays your beneficiary as long as premiums have been paid
    • Policy cannot be revoked by the insurance company
    • Guaranteed Death Benefit
    • Your policy last your whole life
    • Policy cannot be cancelled except for non payment
Get Whole Life Insurance Coverage
UP TO AGE 85 WITH NO MEDICAL EXAM at SeniorCareLife.info