Which type of life insurance policy has a death benefit of $100,000 and a premium that increases after five years?

The type of life insurance policy that features a death benefit and a premium that increases after five years is a modified premium life insurance policy. This form of insurance is designed to offer a lower premium for the initial years—often the first five years—after which the premium increases to a higher level for the remainder of the policy's term.

This structure is beneficial for policyholders who expect their income to increase over time. Initially, they enjoy lower premium payments, which can help them manage cash flow, and as their financial situation improves, they can accommodate the higher premiums that follow.

In contrast, whole life policies maintain consistent premiums throughout the policy's life, while term insurance typically has level premiums for the selected term or may convert to higher premiums upon renewal, depending on the policy type. Universal life insurance also provides flexibility in premium payments and death benefits but does not typically feature the scheduled premium increases seen in modified premium life.