What happens when a life insured under a Term-100 policy reaches the age of 100?

When the life insured under a Term-100 policy reaches the age of 100, the important detail is that premiums are no longer payable. This characteristic is foundational to Term-100 policies, which are designed to provide coverage until the insured reaches 100 years old. At that point, although premiums cease, the benefits to be received depend on the specific terms laid out in the policy.

Some policies may stipulate that the death benefit will be paid out upon reaching this age, while others might have provisions that can result in the policy terminating without a benefit payment. Thus, the outcome hinges on the particular terms and conditions defined within the policy document.

This means that while it is a common expectation that one would stop paying premiums at age 100, what happens next varies and is not guaranteed as an automatic payout. Therefore, understanding the individual policy terms is crucial for determining the exact outcome when the life insured reaches 100.