"Graded benefit" refers to an insurance policy or coverage that pays out lower benefits initially, and then gradually increases over time. Full definition
There are policies like that called graded benefit policies. (hinermangroup.com)
If it doesn't look like you'll qualify for any life insurance product, you still have options, such as graded benefit plans and guaranteed issue plans. (policygenius.com)
Life insurance companies offer graded benefit whole life to older individuals. (pocketsense.com)