Paid-up Policy. You may convert this policy to a Paid-up policy so that You do not have to pay future Premiums. The coverage will be reduced. After conversion to Paid-up policy, We will stop adding bonuses to Your policy. Policy loan is not allowed after conversion to Paid-up policy.
Paid-up Policy. If a group member leaves the insurance scheme before attaining the age of 65 due to illness or accident causing his or her capacity for work to be reduced to one third or less, cover may be maintained without payment of premium during the period of inca- pacity for work up to a maximum of three years. In order to provide and maintain such cover, the insured must present such documen- tation for his or her incapacity for work as XX xxxxx necessary.
Paid-up Policy. You may convert this policy to a Paid-up policy after the end of the third policy year so that You do not have to pay future Premiums. The coverage will be reduced. After conversion to Paid-up policy, We will stop adding bonuses to Your policy. Policy loan is not allowed after conversion to Paid-up policy. Paid-up policy is not applicable for single premium mode.
Paid-up Policy. If there is no outstanding Premium up to and due on the Last Premium Payment Date as specified in the Policy Schedule, this Policy shall continue to be in force as paid-up policy until termination in accordance with Section 8, and the Policyowner shall not be required to pay Premium thereafter.
Paid-up Policy. If your policy accumulates a Surrender value, you may convert your policy to a paid-up policy so that you do not have to pay future Premiums. Subjected to the minimum policy size requirement, the coverage will be reduced. Once it is a paid-up policy, we will stop paying lifetime monthly income, additional guaranteed cash benefit and bonuses to your policy. Policy loan is also not allowed for paid-up policy.
