The premium for a Modified whole life policy is:

A Modified Whole Life policy is designed to have a premium structure that starts off lower than that of a standard whole life policy initially, making it more affordable for policyholders in the early years. This feature is particularly advantageous for those who may be budget-conscious but still wish to secure life insurance coverage.

As the policy matures, the premiums increase and become higher than those of a typical whole life policy for the remainder of the contract. This increase generally occurs after the first few years. The structure is specifically created to attract those who may seek lower initial premiums, allowing them to budget their insurance expenses more comfortably in the early term before the costs balance out later.

This premium structure sets Modified Whole Life policies apart from traditional whole life policies, which maintain a consistent premium throughout the life of the policy. It is important for individuals considering this type of policy to understand the implications of the initial lower premiums transitioning to higher premiums over time, ensuring they are prepared for the financial obligations that will arise later in the policy's life.