What Is Modified Whole Life Insurance Policy? 
Modified Whole Life Insurance is really a company specific question . For one of the companies I work with , Modified Whole Life is designed for someone who has a medical history which most companies would decline or highly rate because of the medical history . Modified Whole Life from my experience is a policy which if you were to pass away in the first 2 years , your beneficiaries would only get the premium back with some interest . Oh ya , you are also restricted in how much Life Insurance you can get as well . These are not guaranteed issue policies however they are close . 