What type of life insurance is paid up at age 65?

Life Paid Up at 65 is a specific type of life insurance policy that is designed to be fully paid up by the time the insured reaches the age of 65. This means that the policyholder pays premiums for a set period, after which no further premiums are required, and the policy remains in force for the rest of the insured’s life.

This type of policy is appealing because it provides a form of life insurance that individuals can secure during their working years and will not have to worry about maintaining premium payments into their retirement or older age. By age 65, the policyholder can rest assured that they have a permanent life insurance policy that will continue to provide coverage for their beneficiaries.

Other options presented, such as Single Pay and 20 Pay Life, are terms that specify different payment terms and structures for life insurance policies but do not specifically ensure that coverage is guaranteed to be fully paid up by age 65. Variable Life Insurance, on the other hand, involves investment options and the premium payments may fluctuate based on the performance of the policy’s investments; it does not provide the same guarantees regarding being paid up by a certain age.