A life insurance policy in which premiums are fully paid up within a stated period is called?

A life insurance policy in which premiums are fully paid up within a specified period is known as limited payment insurance. This type of policy allows the policyholder to pay premiums for a limited time frame, after which the policy is considered fully paid, and no further premiums are required while the coverage remains in force.

This approach is appealing to those who want to ensure that their life insurance premiums do not extend into later years, often coinciding with their retirement or the end of a financial obligation, such as a mortgage. Limited payment insurance effectively combines benefits of permanent life insurance, which typically lasts for the insured's lifetime, with the convenience of a defined premium payment period.

In contrast, the other options do not provide the same structure of premium payments concluding in a specified time while maintaining permanent coverage. This distinction is what makes limited payment insurance the correct answer to the question.