This depends on your preference; both the options have their specific advantages. With the regular pay option, you need to pay the premiums periodically for the entire policy period. You have the option to choose from yearly, half-yearly or monthly option. In the limited pay option, you have to make periodic payments but for a pre-specified limited period. This duration is lesser than the policy term. But the life cover remains intact throughout the tenure. This option provides the flexibility to pay off your premiums when you have the necessary funds. However, the premium instalments are higher as compared to regular pay term insurance.