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

B. limited premium payment

Explanation

A limited premium payment plan is a plan where you pay the premium for a shorter span of time and enjoy the benefits of an insurance cover for a long time.