01.Core Concepts

Under a limited-payment life insurance policy, the insured has lifetime protection, and premiums are level, but they are paid only for a certain period The most common limited-payment policies are for 10, 20, 25, or 30 years A paid-up policy at age 65 or 70 is another form of limited-payment life insurance A policy is paid up when no additional premium payments are required; it matures when the face amount is paid as a death claim or endowment ‹#›