Cite
 

Meaning of reduced paid-up insurance

reduced' paid'-up insur'ance

Pronunciation: (pād'up"), [key]
  1. 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.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.