What is the Definition of Graded Benefit Life Insurance ?

Graded benefit life insurance is a type of life insurance plan providing you with permanent life insurance protection.

However, if the insured person dies within the first 2 (or 3) years of being insured, the beneficiary would receive either a full return of all premiums paid plus interest, or a percentage of the death benefit from the life insurance policy.

That's why graded benefit life insurance plans are easier to get than traditional life insurance.

Usually, these plans are guaranteed approval with no health questions asked.

Also, the amount of coverage available is usually limited to around $20,000 or less.

These plans are meant for seniors and those who are unable to get insured due to health or other reasons where the applicant may be declined for coverage. Get a free quote.