What does ‘Paid Up’ policy means in insurance? | Faculties

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Mr. Dubey

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📊 General Insurance

Q. What does ‘Paid Up’ policy means in insurance?

(A) Policy that requires no further premium payments and continues to provide benefits till maturity.
(B) Policy that provide a life cover for a specific term
(C) Policy for which the premium is paid in a single period together
(D) Policy in which the premium gets reduced over a period of time and benefit increases till maturity

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✅ Correct Answer: (A) Policy that requires no further premium payments and continues to provide benefits till maturity.

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