What is Paid-Up Insurance? | LIFE-HEALTH Exam Prep

Paid-up insurance is a life insurance policy that requires no further premium payments because the cash value has grown enough to cover all future costs, or it was purchased as a nonforfeiture option. 📚 Learn more about Paid-Up Insurance and other key terms for your LIFE-HEALTH exam at Open Exam Prep. 🎯 This term appears on: LIFE-HEALTH 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Paid-Up Insurance definition: https://www.open-exam-prep.com/glossary/paid-up-insurance 💡 Exam Tip: Paid-up = no more premiums required. Reduced Paid-Up = nonforfeiture option with SMALLER death benefit but lifetime coverage. --- #insurance #examprep #financeexam #life-health