Tim Bridges has a life insurance policy where he makes payments of $265 per year until he reaches the age of 65.His policy is then 'paid up' for life.His beneficiaries will receive the face value upon his death.What type of life insurance policy does Tim likely have?

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Tim Bridges likely has a limited payment life insurance policy, which is a type of whole life insurance. With this type of policy, the insured pays premiums only for a certain period of time, such as until age 65, and the policy then becomes paid up for life. This means that the insured no longer has to make premium payments, but the policy remains in force and the beneficiaries will receive the face value upon the insured's death.

Tim Bridges Has a Life Insurance Policy Where He Makes