Are all premiums paid in life insurance policy?
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inigo
Apprentice
Joined: 07 Dec 2004
Posts: 2
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 Posted: 08/07/08 - 05:10 Post subject: |
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| Can you tell me what happens when you have paid off all the premiums on your life insurance policy? Then what happens? I think that there is a name for that, but I forgot how this works and what it is called. If you could point me in the right direction with this, I would be very grateful to you. |
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jabez
Apprentice
Joined: 15 Mar 2007
Posts: 3
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| Posted: 09/06/08 - 00:23 Post subject: |
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| A life insurance policy on which all the premiums have been paid off is called a paid up policy. There are no consequences of a paid up policy, other than that you can now enjoy your life insurance policy for the rest of your life without contributing any more money towards it. Who would not like the idea of that? |
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