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Simple English definitions for legal terms

paid-up policy

Read a random definition: UCC Financing Statement

A quick definition of paid-up policy:

A paid-up policy is a type of insurance policy that remains in effect even after all the premiums have been paid. This means that the policyholder no longer needs to make any more payments to keep the policy active. It is a way to ensure that the policyholder continues to have coverage without having to worry about making regular payments.

A more thorough explanation:

Definition: A paid-up policy is a type of insurance policy that remains in effect even after all premiums have been paid. It is a contract between the insurer and the policyholder that provides coverage for a specific period of time or for the policyholder's lifetime.

Example: A person purchases a life insurance policy that requires them to pay premiums for 20 years. After 20 years, the person has paid all the required premiums, and the policy becomes a paid-up policy. The policy remains in effect, and the person is still covered by the insurance even though they are no longer paying premiums.

This example illustrates how a paid-up policy works. Once all the required premiums have been paid, the policy remains in effect, and the policyholder continues to be covered by the insurance.

paid-up lease | paid-up stock

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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