Which insurance plan provides lower premiums initially that gradually increase each year?

Graded premium whole life insurance is designed with an initial lower premium that gradually increases over a specified period, typically in the early years of the policy. This feature can make the policy more accessible for individuals who may find it difficult to afford higher premium payments at the outset. As the premiums increase, they eventually stabilize, often reaching a level that becomes fixed for the remainder of the policy's life.

In contrast, traditional whole life policies typically maintain a consistent premium throughout the life of the policy. Franchise insurance, which generally refers to insurance provided through an employer or organization to a group of individuals, does not specifically address this gradual premium structure. Similarly, fraternal benefit insurers primarily focus on providing benefits to members of a fraternal organization and their pricing structures may not follow the graded premium model. Thus, graded premium whole life is the option that distinctly aligns with the scenario described in the question.