Which of the following is classified as a Limited-Pay Life policy?

A Limited-Pay Life policy is specifically designed to allow the policyholder to pay premiums for a limited number of years, after which the policy becomes fully paid up, meaning the coverage continues for life without any further premium payments required.

The example of a Life Paid-Up at age 70 demonstrates this characteristic clearly. In this type of policy, premiums are paid up by the time the insured reaches age 70. After this point, the policy is considered fully paid up, and the insured has lifetime coverage without the need for any more payments.

In contrast, the other types listed do not have the same structure or limitations on payment duration. For instance, a 10-year Renewable and Convertible Term policy requires payments to continue for a specified term (10 years) and does not become fully paid up; customers need to renew or convert it after the term. Straight Whole Life requires continuous premium payments throughout the life of the insured, and a Renewable Term to Age 100 also necessitates continual premium payments until the policy matures at age 100.

Thus, the distinguishing aspect of Limited-Pay Life policies is the limited duration of premium payments, which is aptly represented by the Life Paid-Up at age 70.