What Does It Mean When A Life Insurance Policy Is Paid Up?

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    Peggy Mace
    Most of the U.S.
    When a life insurance policy is paid up, it means that you do not need to pay any more premiums in order to keep the policy in effect. It means that the policy you purchased required premiums for a limited period of time, and that time has now been fulfilled.
    Answered on June 23, 2013
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    David RacichPRO
    Fountain Hills, Arizona
    Generally this refers to participating whole life policies that use accumulated paid dividends to pay all future premiums until the maturity or endowment date. Some guaranteed universal life policies can be purchase in single pay or limited pay structured to be paid up as well, but without dividends or based on the crediting method of the policy.
      
    Answered on June 23, 2013
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