Question

How long does protection normally extend to under a limited pay whole life policy?

A. It depends on the performance of the underlying investment account.
B. When premiums are no longer required as stated in the contract.
C. Until age 65.
D. Until age 100.

Answer 1

Protection under a limited pay whole life policy typically extends until the insured individual dies, often stated as until age 100, regardless of the performance of any underlying investment.

Step-by-step explanation:

The protection under a limited pay whole life policy normally extends until the policyholder dies, which is often stated in the contract as until age 100. The characteristic feature of this type of policy is that premiums are paid for a specified period, but the death benefit and protection continue for the lifetime of the insured individual. It does not depend on the performance of an underlying investment account, nor does it inherently cease at a retirement age such as 65.