Term Insurance-Limited Pay Vs Regular Pay

Term insurance is a type of life insurance that provides coverage for a specified period, known as the “term.” There are two primary payment options for term insurance: Limited Pay and Regular Pay.

Limited Pay Term Insurance:
Limited Pay term insurance offers coverage for a specific period, but the premium payments are made for a shorter duration than the overall term.

Regular Pay Term Insurance:
Regular Pay term insurance, on the other hand, requires you to pay premiums throughout the entire term of the policy. Premiums are typically spread evenly over each year of the policy term. The coverage remains active as long as you continue to pay the premiums on time.
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