What term describes whole life insurance where premiums are payable until the insured reaches age 100?

Whole life insurance with premiums payable until the insured reaches age 100 is best described as Ordinary (Straight) Life insurance. This type of policy provides coverage for the entire lifetime of the insured, as long as the premiums are paid. The premium payment structure is usually level, meaning that the premiums remain consistent throughout the life of the policy.

This policy typically builds cash value over time, which can be accessed or borrowed against by the policyholder. By reaching age 100, the policy matures, and the face value is paid out, assuming the insured is still living. This characteristic of payment structure until a specified age, along with the lifelong coverage aspect, makes Ordinary (Straight) Life the correct choice in this context.

In contrast, the Limited Pay Life option would involve paying premiums for a set period rather than until age 100, while Universal Life Insurance offers more flexibility in premium payments and death benefits and does not specifically tie payments to a fixed age. Non-participating Life Insurance refers to policies that do not pay dividends to the policyholder and is not limited to the age of 100 for premium payments. Therefore, Ordinary (Straight) Life stands out as the terminology that accurately describes the arrangement specified in the question.