Limited Pay Whole Life Policy at Life

Limited Pay Whole Life Policy. A limited pay life insurance policy has a set period in which you pay premiums into the policy, either for a number of years or to a specific age. Benefits of a whole life insurance policy.

Because the limited pay option is more common in whole life insurance policies, we think it’s important to discuss some of the benefits that whole life insurance coverage can provide. In this plan, the premium is paid for the time as chosen or. What is limited pay life insurance?

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Premiums are typically paid over the first 10 to 20 years. For example, the aia guaranteed protect plus (ii) is a limited payment whole life plan that allows you to choose from three different premium payment options, offering payments over 12 and 20 years, or till age 65 or 75. Once you reach the target years or age, premiums are no longer required but the policy’s benefits lasts the insured’s entire life. As a limited premium payment endowment policy, the plan provides the option to extend the life cover up to 100 years of age.