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What is the difference between a graded life insurance plan and a level life insurance plan?
Wiki User
∙ 11y ago
A graded benefit life insurance plan is offered when the customer has an extensive health issues history. The difference between the graded life insurance and the level life insurance policy is that graded plan will pay less than the face amount of the policy in the first two policy years if the insured dies before the third policy year. Usually in the first two policy years the benefit paid equals the amount of insurance premiums paid plus a %.
Wiki User
∙ 11y ago
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