You want to pay premiums for 20 years and have your insurance premium obligations finished at that time,but you feel you will need life insurance for the rest of your life.You should choose ____ insurance.

Question

Quizplus · Accepted Answer

With limited pay insurance, you pay premiums for a set number of years (in this case, 20 years), after which your premium obligations are finished, but your coverage continues for the rest of your life. This option allows you to have life insurance coverage for your entire life, while also having a set period of time for premium payments.

You Want to Pay Premiums for 20 Years and Have