Which type of whole life policy requires premiums to be paid for a specific number of years?

Limited pay whole life insurance is a type of permanent life insurance policy that allows the policyholder to pay premiums for a predetermined number of years, after which the policy is considered fully paid up. This means that once the specified premium payment period ends, no further premiums are required, but the coverage continues for the life of the insured. This option can be particularly appealing for individuals who wish to have the assurance of lifelong coverage but want to limit their payment period to a manageable timeframe.

In contrast, a variable whole life policy involves premiums that can fluctuate based on the performance of the underlying investment options chosen by the policyholder. Term life insurance, on the other hand, provides coverage for a specific term and does not accumulate cash value. Whole life without limitations does not require a predetermined number of years for premium payments, as premiums are paid for the entire duration of the insured's life. Therefore, limited pay whole life clearly stands out as the answer that specifically requires premiums to be paid for a designated number of years before reaching full coverage.