Paid Up Option

Paid-Up Additional Insurance Example. Consider a 45-year-old male, who purchases a whole life policy with an annual base premium of $2,000 dollars for a $100,000 death benefit. In the first year of the policy, he decides to contribute an additional $3,000 to a paid-up additions rider.

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DEFINITION of ‘Paid-Up’. Paid-up refers to the the status of a customer account when all payment obligations for a security purchase have been completed. When an individual has paid up, he or she has paid for the security in full. Next Up. Cash Account. Capitalization Of …

paid-up option A form of insurance available as a nonforfeiture option. It provides for continuation of the original insurance plan, but for a reduced amount.

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What Exactly Are Paid Up Additions? Buy Paid-Up Additional Insurance This option allows you to use your dividends to purchase additional paid-up insurance, thereby increasing the amount of insurance you have in-force. The insurance purchased with your dividends is in addition to your basic coverage and can be purchased at any age.

Single Payment Whole Life Insurance First, the single premium payment allows the policyholder to dump … whole life insurance policies for their tax benefits. While all single-premium life insurance policies

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A reduced paid up policy is known as a non-forfeiture option. This can be useful in certain scenarios. If you hit a rough patch financially and you cannot afford to pay your premium, the company can pay them by using a portion of the cash value of your policy.

May 25, 2017  · Reduced Paid-Up (RPU) – One of the contractual options that every single Whole Life policyholder has is the ability to elect RPU status on their policy. Doing so reduces your Whole Life death benefit to the point where it is considered contractually paid up with no further premiums due.

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Signature WL provides guaranteed lifetime Death Benefit protection and the option to obtain additional death benefit through the highly flexible Paid Up Additions Rider (PUA). The Paid Up Additions …

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Life Insurance Guaranteed Cash Value The cash account is one reason premiums are higher for permanent life insurance than for term life. term life insures someone for a certain period,