Common use of Paid-up Policy Clause in Contracts

Paid-up Policy. You may convert this policy to a Paid-up policy so that You do not have to pay future Premiums. The coverage will be reduced. After conversion to Paid-up policy, We will stop adding bonuses to Your policy. Policy loan is not allowed after conversion to Paid-up policy.

Paid-up Policy. You may convert this policy to a Paidpaid-up policy so that You do not have to pay future Premiums. The coverage will be reduced. After conversion to Paidpaid-up policy, We will stop adding bonuses to Your policypolicy and the Retirement Income will be reduced. Policy loan is not allowed after conversion to Paidpaid-up policy.