Paid up life insurance

{
  "id": "MLC-T-INS-002478",
  "term": "Paid up life insurance",
  "field": "Insurance and risk management",
  "definition": "A life insurance policy for which all required premiums have been paid, and no further payments are necessary to keep the coverage in force. The policy's death benefit and any accumulated cash value remain active for the insured's lifetime. This status can be achieved by paying all premiums over the policy's term or by using accumulated cash value to pay off future premiums.",
  "url": "https://mlchart.com/terminology/insurance/paid-up-life-insurance/"
}