On a participating traditional certificate, additional death benefit that is purchased and fully paid for through the use of dividends. Paid-up additions are simply small, single premium, paid-up coverage.
Amounts of life insurance purchased by policy dividends and added to the original life insurance policy to increase the death benefit and cash values. These additions do not require the further payment of premiums. With variable life insurance, paid-up additions can also be purchased by making additional premium payments.
(WL, SWL) Each dividend paid is left in the policy under the Paid-Up Additions dividend option. It is used to buy a single premium life insurance “policy” for whatever amount it will purchase to enhance accumulation values and death benefits.
A type of insurance policy or annuity in which the owner receives dividends that typically increase the benefit amount.
Additional whole life insurance bought by using policy dividends.
Additional insurance purchased by policy dividends. The amount of insurance purchased depends upon the attained age of the insured at the time when the dividends purchase the additions.
A dividend option that permits the policyholder to use dividends to purchase additional life insurance.
Additional amounts of insurance purchased using dividends; these insurance amounts require no further premium payments.
Additional insurance purchased by policy dividends on a net single premium basis at the insured's attained insurance age at time additions are purchased.
An option whereby the insured can leave dividends with the insurer, and each dividend is used to buy a single premium life insurance policy for whatever amount it will purchase. Also called Paid-Up Additions. (LI)
Paid-up insurance, commonly purchased under a dividend option, but may sometimes be purchased with additional premiums and/or lump sums. Since this insurance is purchased at premium rates based on the insured's original underwriting class, the right to purchase Paid-Up Additions is quite valuable. These additions have cash value as well as a death benefit.
Additional life insurance coverage that is typically purchased with policy dividends. Paid-up additions may have a cash value component in addition to a death benefit.
Additional life insurance purchased with policy dividends. No additional premiums are needed for paid-up additions. Also called dividend additions.