What type of whole life insurance provides coverage until the insured dies or reaches age 100?

The type of whole life insurance that provides coverage until the insured dies or reaches age 100 is straight or traditional whole life. This insurance policy is designed to last for the entire lifetime of the insured, ensuring that death benefits are paid regardless of when the insured passes away, as long as premiums are paid.

Straight whole life offers a guaranteed death benefit, a savings component (cash value), and predictable premium payments that do not increase over time. These features provide policyholders with financial security, as the insured can rely on the policy to remain in force as long as they continue to pay the premiums.

Other options, while relevant to insurance, do not match the characteristics of traditional whole life insurance. For example, indexed whole life has a cash value that grows based on a stock market index, but it does not specifically tie to the age limit of 100 in the same way traditional whole life does. Term life insurance provides coverage for a limited time period and does not build cash value, ending at the term's conclusion, which means it does not assure benefits past the specified term. Universal life insurance offers flexible premiums and death benefits, and while it can last a lifetime, it does not guarantee coverage until age 100 unless properly funded.