reduced paid-up insurance
[ peyd-uhp ]
/ ˈpeɪdˌʌp /
noun
life insurance in which a nonforfeiture value is used to purchase a reduced amount of fully paid-up insurance of the same kind as the surrendered policy.
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Nearby words
reduced glutathione, reduced hematin, reduced hemoglobin, reduced level, reduced mass, reduced paid-up insurance, reducer, reducible, reducible hernia, reducing agent, reducing glass
Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019