Limited-Pay Life coverage normally lasts until what age?

Limited-Pay Life coverage normally lasts until what age?

• A. Age 65
• B. Age 90
• C. Age 75
• D. Age 100

Answer: (D)

In limited-pay whole life, you pay premiums for a set period, yet the policy protection continues for the insured’s life. A common feature of these policies is that they mature at age 100. That means the coverage is designed to last until the insured reaches 100, at which point the policy is paid up or ends, depending on the contract. If the insured dies before reaching 100, the death benefit is paid as usual. The other ages aren’t the typical maturity point for this type of plan, so the standard duration is up to age 100.

In limited-pay whole life, you pay premiums for a set period, yet the policy protection continues for the insured’s life. A common feature of these policies is that they mature at age 100. That means the coverage is designed to last until the insured reaches 100, at which point the policy is paid up or ends, depending on the contract. If the insured dies before reaching 100, the death benefit is paid as usual. The other ages aren’t the typical maturity point for this type of plan, so the standard duration is up to age 100.