Starter - as long as you pay the premium
- Whole (or universal) life insurance policies are considered
- As long as you pay the premium, the policy is in effect. (p32)
2015 Version - Consumer Action Handbook - U.S. General Services Administration’s (GSA) Office
- Term policies generally do not have a cash value and usually are less expensive than permanent insurance for a given amount of insurance protection during a like time period.
- Permanent (cash value) life insurance pays the beneficiary whenever the insured dies, as long as premiums have been paid.
2016 - FIO - Report on Protection of Insurance Consumers and Access to Insurance - 58p
....the concept of a "premium due date" was thought to be inapposite to flexible premium policies.
1983-1, NAIC proceedings
<def. inapposite: out of place; inappropriate>