Question

What happens when term life insurance is paid up?

I need to ask this question from Insurance subject matter

The question was posed to me in an interview for job.

Other related questions to my question are:

What happens when you finish paying term life insurance?

What happens when term life insurance matures?

What happens after 20 year term life insurance?

What happens to the cash value after the policy is fully paid up?

Answer 1

Correct answer for this question is: Paid-up additional insurance is available as a rider on a whole life policy. It lets policyholders increase their death benefit and living benefit by increasing the policy's cash value. Paid-up additions themselves then earn dividends, and the value continues to compound indefinitely over time.

The title of my answer can be Paid-Up Additional Insurance Definition

My answer's reference is Investopedia