Is paid up policy a life insurance policy?
|
|
|
| Author |
Message |
torry
Apprentice
Joined: 21 May 2007
Posts: 5
|
 Posted: 08/03/08 - 08:48 Post subject: |
 |
|
| I came across some reference to a paid up policy, and I would now like to find out what that means. My guess is that it has most probably got something to do with a life insurance policy but I am not sure about that. Can you tell me once and for all what a paid up policy is, please? |
|
|
Back to top
|
|
|
|
 |
jessica
Apprentice
Joined: 10 Mar 2005
Posts: 4
|
| Posted: 09/02/08 - 03:55 Post subject: |
|
|
You guessed right this time. A paid up policy is indeed a life insurance policy. In fact, to be more precise, a paid up policy is a life insurance policy on which all the premiums have been paid off. When the policy is paid in full, then there are no more premiums to be paid anymore, and the policy stays in force until the end of someone's life.
|
|
|
Back to top
|
|
|
|
|
|
  |
All times are GMT
|
| Page 1 of 1 |
Related topics: | |
|
|
