Paid up at age life insurance

{
  "id": "MLC-T-INS-002477",
  "term": "Paid up at age life insurance",
  "field": "Insurance and risk management",
  "definition": "A form of limited payment whole life insurance where premiums are payable only for a specified number of years or until the insured reaches a certain age, such as 65. After the final premium is paid, the policy is considered fully paid-up, and the death benefit remains in force for the rest of the insured's life without further payments. The policy continues to accumulate cash value even after premium payments cease.",
  "url": "https://mlchart.com/terminology/insurance/paid-up-at-age-life-insurance/"
}