What Is Paid Up Insurance In Whole Life Policies?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    This is the amount of insurance that if you stopped making premium payments today and elected to take a paid up policy, you would have that amount of insurance for the rest of your life.  A 20 pay life policy would be paid up in 20 years with no premium due after that time while the insurance is still in force.  A whole life policy can have a reduced paid up option after enough cash value has accumulated in the policy to provide a paid up policy.  This table can be found in your policy.  A good agent can help review your policy with you to help you understand your non-forfiture options
    Answered on June 12, 2013
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