If an insured has a Life Paid-Up at 75 Policy (a limited-pay life paid-up at age 75), what would the beneficiary receive if the insured died at age 68?

Question

Maliyah

Business

14 July, 16:01

If an insured has a Life Paid-Up at 75 Policy (a limited-pay life paid-up at age 75), what would the beneficiary receive if the insured died at age 68?

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Lucia Chambers · Answer 1

Answer: The beneficiary will receive the full-face value of the policy.

Explanation: A life insurance policy is an insurance policy that covers the life of the insurer in the case of an untimely death. There are different types of life assurance policies.

A life paid up at 75 policy is a type of life assurance policy that covers the insurer up to the age of 75 years. if the insurer now dies before attain the age of 75 years, the face value of the policy will be paid to his beneficiary while if he lives above age 75 years, the policy ceases.