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What is the difference between whole life insurance and modified whole life insurance?

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What is the difference between whole life insurance and modified whole life insurance?

This is a very interesting question from Insurance subject

This question was posed to me during an interview.

Other related questions to my question are:-

What does modified life insurance mean?

What is a modified death benefit?

What is the catch with whole life insurance?

What is the difference between modified and graded life insurance?

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Correct answer is: Premiums: Standard whole life insurance has the same premiums for your entire policy, whereas modified whole life premiums change once. Cash value: Your premiums begin to fund your cash value account right away with whole life insurance, but you will need to wait until your premiums go up with modified whole life.

The title of my answer is What Is Modified Whole Life Insurance? | Policygenius

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