PAID-UP POLICY
\pˈe͡ɪdˌʌp pˈɒlɪsi], \pˈeɪdˌʌp pˈɒlɪsi], \p_ˈeɪ_d_ˌʌ_p p_ˈɒ_l_ɪ_s_i]\
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An insurance policy of which all of the premium payments are made is known as a paid up policy. Such a policy requires the customer to pay the premium till a certain date, after which the policy is considered fully paid for and remains active. The choice of cancellation lies with the customer, rather than the insurance company.
By Henry Campbell Black
Nearby Words
- paid up
- paid vacation
- paid-in capital
- paid-up
- paid-up capital
- PAID-UP POLICY
- paideutics
- paien
- paige
- paigle
- paijama