Insurance

Graded Premium Policy

This particular type of whole life policy caters to individuals seeking a higher level of life coverage but are unable to afford it at the moment. It involves paying a lower premium rate that gradually increases within the initial three to five years before stabilizing for the remainder of the policy's duration.

Related terms

Blanket coverage

Understand the meaning and definition of Blanket coverage in the context of stock market, trading, and investments.

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Peril

Understand the meaning and definition of Peril in the context of stock market, trading, and investments.

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Lifetime maximum

Understand the meaning and definition of Lifetime maximum in the context of stock market, trading, and investments.

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Pro-rata treaties

Understand the meaning and definition of Pro-rata treaties in the context of stock market, trading, and investments.

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Mortgage-backed securities

Understand the meaning and definition of Mortgage-backed securities in the context of stock market, trading, and investments.

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Grace period clause

Understand the meaning and definition of Grace period clause in the context of stock market, trading, and investments.

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