There are policies like that called graded benefit policies. (hinermangroup.com)
A typically graded benefit policy offers from $ 50,000 up to $ 100,000, but the expense is such that many people often take an even lower benefit level that covers funeral expenses. (burialinsuranceexpense.com)
With a simplified underwriting process, the Farmers Graded Benefit policy could offer otherwise uninsurable individuals an opportunity to obtain permanent whole life coverage. (farmers.com)