Which of these would be considered a Limited-Pay Life policy?

A Limited-Pay Life policy is one in which the policyholder pays premiums for a limited time but remains covered for their entire life. This means that once the premium payments have been completed, the policy is considered "paid up," and no further payments are required, while the coverage continues.

The option describing a policy that is "paid up at age 70" embodies this characteristic perfectly. It indicates that the premiums will be paid only until the insured reaches age 70, after which the policyholder will no longer need to make premium payments, yet the life insurance coverage remains in effect for the rest of their life.

Other types of policies mentioned do not fit the criteria of a Limited-Pay Life policy. For example, flexible premium universal life allows the policyholder to adjust the premium amount and frequency, which does not restrict payments to a limited term. Whole life with annual premiums requires ongoing yearly payments without a specified end point, and term insurance involves coverage for a set period rather than for the insured's entire life, along with potential renewals rather than limited premium payments. Thus, option A clearly exemplifies a Limited-Pay Life policy, distinguishing itself through its structured payment schedule and lifetime coverage.