In a 20-pay life policy, what is the duration of protection provided?

In a 20-pay life policy, the correct understanding of the duration of protection is that it provides coverage for the insured's entire life, typically until age 100, while requiring the policyholder to make premium payments for only 20 years. This structure means that after the 20 years of premium payments, the policyholder maintains life insurance coverage without the need for any further payments.

This type of policy is designed to provide a permanent death benefit, thus ensuring that the insured's beneficiaries will receive a payout upon the insured's death, regardless of when that occurs, as long as the policy is in force. The premium payment period being limited to 20 years makes it attractive for policyholders who may wish to have a clearer end point for their financial obligations while still benefiting from lifelong coverage.