Limited payment whole life insurance is a contract written for a given number of years after which the face value is automatically paid to the insured.

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Limited payment whole life insurance is a type of permanent life insurance in which the premiums are paid for a specified number of years, but the coverage extends for the lifetime of the insured. The face value is not automatically paid to the insured after a specified number of years.

Limited Payment Whole Life Insurance Is a Contract Written for a Given