You have been assigned to service an existing client. Upon review of their current coverage, you discover the insured has had a 20 year Limited Pay Term 100 policy for 28 years. The client has had the policy for a long time and it has been some time since he has reviewed it. He asks you to explain the policy to him. Which of the following correctly describes the policy in this scenario? The client has coverage for life and must pay the permanent premiums for life. The client cannot surrender the policy since the policy will not have a cash surrender value (CSV). The client has coverage for life and he does not have to pay any more premiums. The client no longer has coverage because the limited pay policy is paid-up