The life insurance policy in which death benefits last a lifetime but premiums are all paid after a specified time period is a limited-pay whole life policy.
This scenario is considered a Pareto Improvement. In neoclassical economics, a pareto improvement is an action done in the economy that does no harm in the process but helps at least one of the transacting bodies. No one will be harmed by the selling of the book and the two parties will instead be helped.
