What is the main obligation of the insurer when premiums are paid as required?

The main obligation of the insurer when premiums are paid as required is to pay the death benefit. This obligation is foundational in life insurance contracts, where the primary purpose is to provide financial support to the beneficiaries upon the insured's death. When policyholders consistently pay their premiums, they ensure that their coverage remains in force, guaranteeing that the insurer will fulfill its contractual obligation to pay the agreed-upon death benefit to the beneficiaries in the event of the insured's passing.

While the maintenance of the policy's cash value is important in certain types of life insurance policies, such as whole life or universal life insurance, it is not the main obligation tied to premium payments. Similarly, offering premium returns or increasing policy limits might be beneficial options under specific conditions or policy types, but they do not constitute the primary responsibility of the insurer. The focus remains on the obligation to provide the death benefit, which is the core purpose of a life insurance policy.