Under the whole life policy premiums are payable throughout the life time of the life assured and, as such the cheapest from the policy. The policy is eminently suited to meet the requirements of persons who desire to effect policies for the purpose of providing for payment of Estate duty.
The whole life with limited payments, is the best form of life assurance for family provision since it enables the life assured to pay all premiums during the ordinary vigorous and most productive years of the life, relieving him from the necessity of making payments later in life when might become a burden. Premium are payable for a selected of years or until death if it occurs within this period. If the life assured survives the premium paying period, the policy continues in full force, provided premiums have been paid, but no further premiums are required to be paid