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

The type of life insurance plan that requires you to pay premiums for a stipulated period, usually 20 or 30 years, or until you reach a specified age is a Limited payment policy. This type of policy allows you to have a fixed premium payment period, after which you are fully covered for the rest of your life without any additional premiums required. It is a good choice for individuals who want to have a guaranteed life insurance coverage, but do not want to pay premiums for the entire duration of their policy.

Which Type of Life Insurance Plan Requires You to Pay