Which type of whole life insurance requires payments to be based on the client's age at issue?

Continuous Premium Whole Life requires payments based on the client’s age at issue because this type of policy is designed to provide coverage for the entire life of the insured, with premiums calculated based on the insured's age at the time the policy is purchased. This means premiums remain level throughout the policyholder's lifetime, which is a fundamental aspect of whole life insurance. The policyholder pays premiums until death or until the policy matures.

In contrast, Modified Whole Life involves lower initial premiums that increase after a specified period, and therefore is not based solely on the age at issue in a straightforward manner; it incorporates an adjustment over time. Adjustable Whole Life allows for flexibility in premium payments and death benefit amounts, which means the premium payment structure is not fixed based solely on age. Single Premium Life requires only a one-time payment for coverage, making it distinct from continuous premium structures tied directly to age at issue.