Life · Chapter 4 · Whole Life
Paid-Up
Definition
No more premiums owed, but coverage stays in force (e.g., a 20-pay life policy after year 20).
Exam tip
Paid-up ≠ matured — a limited-pay policy is paid-up early but still endows at 100.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms