reduced paid-up insurance

Definition

A form of insurance available as a non-forfeiture option, providing for continuation of the original insurance plan at a reduced amount.

Use this term in a sentence

You may want to try and get a reduced paid-up insurance if you think that will be more effective for you.

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It was reduced paid-up insurance and that was a certain form of insurance that had a lot of interesting attributes.

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We had wanted to negotiate the terms of the insurance policy and fortunately we were able to obtain a reduced paid-up insurance policy.

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reduced form reduced spread