An insured arranges for his premium payment to cease at the age of 70. This is a whole life policy with
-
A.
indeterminate premium payment -
B.
limited premium payment -
C.
single premium payment -
D.
modified premium payment
Correct Answer: Option B
Explanation
A limited premium payment plan is a plan where you paythe premium for a shorter span of time and enjoy the benefits of an insurance cover for a long time.