Which type of insurance provides lifetime protection for a single large premium payment?

Single-premium whole life insurance provides lifetime protection through a single large premium payment. This type of insurance is designed so that the policyholder pays a one-time upfront premium, and in return, the policy stays in force for the insured's entire life, offering both a death benefit and a cash value component that grows over time.

This approach has distinct advantages; since it's fully funded with just one payment, there are no additional premium payments needed in the future, simplifying the policy management for the insured. Moreover, as the policy accumulates cash value, it can serve as a financial resource for the policyholder if needed.

Other types of insurance mentioned in the choices have different structures. For example, modified whole life insurance typically has lower premium payments in the initial years that increase after that, while limited-payment life insurance requires premiums to be paid over a set number of years rather than a single payment. Combination whole life insurance usually combines elements of whole life with other types of coverage, leading to different payment plans and structures.