What does a 'paid up endowment policy' mean?

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What does a 'paid up endowment policy' mean?

Sorry, I can't really add any more detail.

2007-07-27 10:47:52 · 3 answers · asked by tattyhead65 4 in Business & Finance ➔ Insurance

3 answers

Paid up means no more premiums are due. Endowment means that after a certain number of years the beneficiary will get the money.

When you buy it you may pay premiums for years but after a certain number of payments it becomes paid up.

2007-07-27 11:21:31 · answer #1 · answered by J 4 · 0⤊ 0⤋

Endowment Policy Means

2016-12-16 18:01:43 · answer #2 · answered by Anonymous · 0⤊ 0⤋

This sounds like life insurance. An endowment policy has value. Most commonly, when you get to retirement age, you take the value and buy an annuity.

Paid-up means that you pay everything up front and you don't get monthly or yearly bills.

2007-07-27 10:52:31 · answer #3 · answered by Ted 7 · 0⤊ 0⤋