The premium for a Modified whole life policy is

A Modified Whole Life policy is designed to have premiums that are initially lower than those of a traditional Whole Life policy. During the early years, the premiums are reduced to make the policy more accessible. These lower initial premiums can make it easier for individuals to obtain permanent life insurance coverage.

As the policy matures, typically after the initial period (which is usually the first 5 years), the premiums increase and become higher than those typically associated with a standard Whole Life policy for the rest of the life of the policy. This structure is intended to provide an affordable entry point into life insurance while gradually transitioning to a more standard premium structure, reflecting the policy's long-term nature.

This unique pricing strategy is beneficial for individuals who expect their financial situation to improve over time, allowing them to manage their cash flow more effectively during the early years while securing lifelong coverage.