With graded benefit life insurance you may have a limited amount of life insurance the first 2-3 years you are insured. After that time your policy will provide full coverage.
These plans are usually issued with no health exam required.
These plans may also be known as guaranteed issue life insurance which provides guaranteed coverage subject to your age, and has a limited death benefit the first few years you are insured under the life insurance policy.
These plans make life insurance available to people who may otherwise be unable to get insured for life insurance.
Learn more about how graded benefit life insurance plans work.