Limited Payment Life Plans
What are Limited Payment Life Plans?
In a Limited Payment Life Plan Certificate, the face amount of the Certificate is payable to a beneficiary upon the death of the member. Payments the member is required to pay are limited to a maximum period indicated in the title of the plan.
The Limited Payment Plans offered for the member's selection have a minimum of $3,000 and a maximum of $1,000,000 and are:
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Limited payment whole life plan entails that the protection is provided until the death of the insured, however, premiums can be paid up to a certain period.