What type of insurance policy requires the payment of premiums throughout the life of the insured and pays the beneficiary the face value of the policy upon the insured's death?

Question

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Straight life insurance requires the payment of premiums throughout the life of the insured and pays the beneficiary the face value of the policy upon the insured's death. Limited-payment life insurance requires premiums for a limited period of time, while universal life insurance offers flexible premiums and death benefits that can be adjusted throughout the policyholder's lifetime. Term life insurance only provides coverage for a specified period and does not pay out the face value of the policy upon the insured's death if the policy has expired.

What Type of Insurance Policy Requires the Payment of Premiums