Regular Pay vs Limited Pay: Pay for 10 Years, Covered for 30?

Suppose you want thirty years of life cover. Regular pay usually means lower yearly premiums throughout those thirty years. Limited pay means higher yearly premiums for a shorter agreed period, such as ten years. Once all agreed premiums are paid, cover continues for the remaining twenty years under the policy terms. Limited pay may cost less in total and could let you finish paying before retirement. Ask your advisor to compare both options with your budget and future plans.