limited payment life insurance

  • A plan of insurance for the whole of life, but for which the premiums are payable for only a specified number of years or until the death of the insured, whichever occurs first.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).