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2007-07-11 06:11:50 · 2 answers · asked by Deepak Chowdhary 1 in Business & Finance Insurance

2 answers

A paid up policy is a policy in which no more payments are required, however the benefit is still there.
Now, depending on the kind of policy the maturity amount will be different. The amount will alwyas be less than the policy benefit. For example, if your benefit is for 20000 dollars, the maturity amount can be any amount from 0 to less than 20000 dollars.
All policies will reach the benefit amount but they usually do when the insured reaches 100 years of age or in some cases 120 years of age (at least that's what I've seen in some policies in California).

2007-07-11 07:04:23 · answer #1 · answered by Makotto 4 · 0 0

Amount varies by the policy - read your policy or ask your agent for a written statement.

2007-07-11 06:37:18 · answer #2 · answered by Judy 7 · 0 0

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