Finance Quick Answers
What is modified whole life insurance?
Modified whole life insurance has reduced premiums for a limited period of time. The premiums are higher after that. These policies are often targeted at younger people - like college students or newlyweds - who expect future growth in their income.
Brenda Procter, M.S., Consumer and Family Economics, College of Human Environmental Sciences, University of Missouri-Columbia
If you'd like to learn more about this and other personal finance topics, the University of Missouri offers 'Personal & Family Finance,' a correspondence course, through the Center for Distance and Independent Study (800-609-3727). Information about this course is available at http://cdis.missouri.edu/CourseInfo/DetailCourseInfo.asp?1985.
Last update: Monday, July 21, 2008