Which type of life insurance typically requires higher premiums for the remainder of life after an initial lower period?

Modified whole life insurance is structured to have lower premiums during the initial years, which then increase to a higher, level premium for the remainder of the policyholder's life. This design makes it more accessible in the early stages, allowing individuals to ease into the financial commitment. Once the initial period concludes, the premiums adjust to reflect the full cost of the coverage for lifelong protection, combining aspects of both term and whole life insurance. This allows policyholders to have a lower financial burden at the start before transitioning to a more sustainable payment level that supports lifelong coverage.

In contrast, term life insurance is designed to provide coverage for a specific period with level premiums throughout that term, and it does not build cash value. Whole life insurance generally requires consistently higher premiums from the outset, contributing to both the death benefit and the cash value accumulation. Variable life insurance has premiums that can vary due to investment performance, but it does not follow the structured premium increase pattern seen in modified whole life insurance.