The life insurance death benefit is not 100% from the start of your policy, but it reached 100% after you have been insured by the policy for 2-3 years.
If you die during the first 2 years you are insured, the beneficiary receives the premiums paid plus interest on those premiums.
If you die after being insured for at least 2 years (3 years with some policies), then the beneficiary receives the full 100% death benefit, subject to any exclusions in your life insurance policy.
Usually, graded benefit whole life insurance policies do not require you to take any medical exam to qualify for coverage, just a few health questions.
You can get an instant life insurance quote and apply online for your coverage today. Learn more about graded benefit life insurance