How long are premiums due in a traditional whole life policy?

In a traditional whole life insurance policy, premiums are due until the insured passes away or reaches age 100. This approach reflects the nature of whole life policies, which are designed to provide lifelong coverage. Unlike term life insurance, which provides coverage for a specific number of years, whole life policies guarantee coverage for the entire lifetime of the insured, as long as premiums are paid.

This model ensures that the policy will pay out a death benefit regardless of when the insured dies, as the coverage does not expire like term insurance. Age 100 is a significant milestone in these policies because many insurers will consider the policy fully paid at that age, even if not adjusted for inflation or longevity considerations.

Other options do not accurately reflect the structure of traditional whole life policies. For example, premiums are not limited to a specific age like 65, nor are they required for only a fixed number of years or based on the insured's decision to cancel the policy. The commitment to pay premiums for the life of the insured reinforces the permanence and stability features that whole life insurance is known for.