can i get life insurance if i've had cancer?

For example, if a company grants 10% interest and you made $1000 in payments, you will get back $1100 (if death occurred during the waiting period).

Modified whole-life insurance has lower premiums for a shorter time (usually between two and three years, but sometimes up to five or ten) and a higher rate for the remaining period. It may seem appealing initially, but the premiums are high, and the policy options are complicated, making it not the best choice for most people.

Committing in a few decades to higher premiums

There are two significant differences between traditional whole-life insurance and modified whole-life insurance:

If a company gives 10% interest and you make $1000 in payments, you'll get $1100 back (except if you die during the waiting period).

The cost of a modified life policy will usually be higher than a traditional life insurance plan after the period of lower premiums has ended.

Modified Life Insurance is characterised by changing premiums over time, typically five to ten years after the Policy was issued.

A modified whole-life policy is something that most people don't need. Traditional whole-life insurance policies can be more expensive and complicated than you need. A modified whole life policy will give you:

The most important thing you must understand about life insurance is that no one company can be the best option for every person.