Which of the following options allows a policyholder to eliminate premiums without losing access to coverage?

The choice of Reduced Paid Up Insurance allows a policyholder to eliminate premiums while still retaining access to the coverage of the policy. When a policyholder opts for this option, the cash value accumulated in the policy is used to purchase a reduced amount of paid-up insurance. This means that while the policyholder no longer needs to pay premiums, they maintain a form of life insurance that remains in force.

This option is particularly beneficial for individuals who want to ensure that their beneficiaries are still provided for without the obligation of future premium payments. The insurance coverage may decrease in value compared to the original policy, but it ensures that the policyholder has a safety net that does not require ongoing financial contributions.

In contrast, Cash Surrender Value refers to the amount the policyholder would receive if they decided to terminate the policy altogether. This results in the loss of coverage, which does not align with the premise of maintaining access to benefits.

Automatic Premium Loan is a provision that allows the insurer to use the policy's cash value to pay overdue premiums, thereby keeping the policy active, but it still does require that the policy has a cash value and does not eliminate premium payments in the sense of providing fully paid-up insurance.

Extended Term Insurance allows a policyholder to convert