Which kind of life insurance experiences several increases in premium over the first 5-7 years before leveling out?

Graded life insurance is designed with a premium structure that typically starts at a lower rate, which then gradually increases over the first several years of the policy, often for a period of about 5 to 7 years. After this initial period of increases, the premiums then level out and remain consistent for the remainder of the coverage. This type of policy is often appealing to individuals who are looking for lower initial costs while accepting that their premiums will rise in the early years.

In contrast, other types of insurance mentioned, such as limited pay life, whole life, and variable life, have different premium structures. Limited pay life insurance often has higher premiums that remain constant as the policyholder pays off the premium over a shorter, predetermined period, while whole life insurance typically has stable premiums from the outset. Variable life insurance allows for a flexible premium payment but does not inherently include the structured increases seen in graded life policies. Therefore, the characteristics of graded life insurance make it the correct choice for a policy experiencing several increases in premiums before stabilizing.