Which type of life insurance plan requires you to pay premiums for a stipulated period,usually 20 or 30 years,or until you reach a specified age?

Question

Quizplus · Accepted Answer

Limited payment policy is a type of life insurance plan that requires the policyholder to pay premiums for a stipulated period, usually 20 or 30 years, or until they reach a specified age. After that, the policy remains in force without the need for further premium payments. This type of plan is suitable for individuals who want to ensure that their life insurance coverage remains in force while limiting the overall cost of the policy.

Which Type of Life Insurance Plan Requires You to Pay