What type of coverage is associated with a life insurance policy that provides distributions over a lifetime?

The type of coverage that provides distributions over a lifetime is best described as life-long annuity coverage. This form of insurance creates a predictable income stream that can last for the entire lifetime of the policyholder. Annuities are designed to ensure that individuals have a steady flow of income in retirement or during their later years, thereby reducing the risk of outliving their savings.

In contrast, temporary coverage refers to policies that provide protection for a specific period of time and do not offer lifetime income. Limited term coverage is similarly defined by its finite duration, meaning it does not provide ongoing distributions over a person’s lifetime. Income protection coverage is focused on replacing lost income due to disability or job loss, rather than providing a structured distribution of funds over a lifetime. Thus, life-long annuity coverage is specifically structured to meet the need for sustained financial support throughout one’s lifetime, distinguishing it clearly from the other types mentioned.